The Toronto-Dominion Bank (TD) Sees Significant Decrease in Short Interest
The Toronto-Dominion Bank (NYSE:TD) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 7,129,369 shares, a decline of 32.5% from the September 15th total of 10,566,108 shares. Based on an average trading volume of 1,064,285 shares, the days-to-cover ratio is currently 6.7 days. Approximately 0.4% of the shares of the company are sold short.
The Toronto-Dominion Bank (NYSE:TD) opened at 44.54 on Tuesday. The firm’s 50-day moving average price is $44.25 and its 200 day moving average price is $43.71. The Toronto-Dominion Bank has a 52 week low of $33.49 and a 52 week high of $45.98. The firm has a market cap of $82.61 billion, a P/E ratio of 13.29 and a beta of 0.95.
The Toronto-Dominion Bank (NYSE:TD) last announced its earnings results on Thursday, August 25th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.06. The firm earned $8.70 billion during the quarter. The Toronto-Dominion Bank had a return on equity of 13.56% and a net margin of 21.02%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 earnings per share. Equities analysts forecast that The Toronto-Dominion Bank will post $3.68 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.4249 per share. This is an increase from The Toronto-Dominion Bank’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.70 annualized dividend and a dividend yield of 3.82%. The Toronto-Dominion Bank’s dividend payout ratio is presently 49.85%.
Several hedge funds and other institutional investors have recently bought and sold shares of TD. Gulf International Bank UK Ltd increased its position in The Toronto-Dominion Bank by 1.3% in the third quarter. Gulf International Bank UK Ltd now owns 564,690 shares of the company’s stock valued at $25,053,000 after buying an additional 7,200 shares during the last quarter. Nexus Investment Management Inc. increased its position in The Toronto-Dominion Bank by 2.3% in the third quarter. Nexus Investment Management Inc. now owns 730,771 shares of the company’s stock valued at $32,447,000 after buying an additional 16,445 shares during the last quarter. Capstone Asset Management Co. increased its position in The Toronto-Dominion Bank by 2.7% in the third quarter. Capstone Asset Management Co. now owns 169,197 shares of the company’s stock valued at $7,512,000 after buying an additional 4,510 shares during the last quarter. Weaver C. Barksdale & Associates Inc. increased its position in The Toronto-Dominion Bank by 42.6% in the third quarter. Weaver C. Barksdale & Associates Inc. now owns 19,175 shares of the company’s stock valued at $851,000 after buying an additional 5,733 shares during the last quarter. Finally, Hexavest Inc. increased its position in The Toronto-Dominion Bank by 2.6% in the third quarter. Hexavest Inc. now owns 299,919 shares of the company’s stock valued at $13,291,000 after buying an additional 7,650 shares during the last quarter. Institutional investors own 51.77% of the company’s stock.
A number of brokerages have recently issued reports on TD. Dundee Securities began coverage on shares of The Toronto-Dominion Bank in a research report on Wednesday, September 21st. They issued a “buy” rating for the company. Citigroup Inc. boosted their target price on shares of The Toronto-Dominion Bank from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, September 14th. Zacks Investment Research raised shares of The Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, August 30th. TD Securities reissued a “buy” rating and issued a $64.00 target price (up previously from $61.00) on shares of The Toronto-Dominion Bank in a research report on Monday, August 29th. Finally, CIBC cut shares of The Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $56.88.
The Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank conducts its business through segments, such as Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses, including credit cards, auto finance, wealth and insurance businesses.
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