The Toronto-Dominion Bank (NYSE:TD) Sees Significant Increase in Short Interest

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 18,500,000 shares, an increase of 24.6% from the August 31st total of 14,850,000 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 2,190,000 shares, the days-to-cover ratio is presently 8.4 days.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several hedge funds have recently made changes to their positions in TD. Park Avenue Securities LLC lifted its holdings in shares of Toronto-Dominion Bank by 5.3% during the first quarter. Park Avenue Securities LLC now owns 3,641 shares of the bank’s stock worth $220,000 after purchasing an additional 184 shares during the period. Consolidated Portfolio Review Corp grew its position in Toronto-Dominion Bank by 1.6% during the first quarter. Consolidated Portfolio Review Corp now owns 11,583 shares of the bank’s stock valued at $699,000 after buying an additional 186 shares during the period. First Affirmative Financial Network raised its position in shares of Toronto-Dominion Bank by 1.9% in the second quarter. First Affirmative Financial Network now owns 10,120 shares of the bank’s stock worth $556,000 after acquiring an additional 190 shares during the period. Wright Investors Service Inc. boosted its stake in shares of Toronto-Dominion Bank by 0.5% during the 1st quarter. Wright Investors Service Inc. now owns 35,158 shares of the bank’s stock worth $2,123,000 after acquiring an additional 191 shares in the last quarter. Finally, Balanced Rock Investment Advisors LLC increased its stake in shares of Toronto-Dominion Bank by 1.4% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 14,959 shares of the bank’s stock valued at $822,000 after purchasing an additional 203 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Finally, UBS Group started coverage on Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Stock Up 0.1 %

TD stock traded up $0.05 on Friday, hitting $63.36. 1,470,763 shares of the company’s stock were exchanged, compared to its average volume of 2,651,698. The firm has a 50 day moving average price of $59.77 and a two-hundred day moving average price of $58.01. Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The stock has a market cap of $110.77 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. The firm had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.48 earnings per share. As a group, equities research analysts expect that Toronto-Dominion Bank will post 5.84 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.739 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 4.67%. Toronto-Dominion Bank’s payout ratio is currently 67.73%.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.