Toronto Dominion Bank (NYSE:TD) Hits New 52-Week High – Should You Buy?

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) reached a new 52-week high on Thursday . The company traded as high as $99.04 and last traded at $97.3320, with a volume of 2397577 shares. The stock had previously closed at $98.58.

Wall Street Analysts Forecast Growth

TD has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Raymond James Financial upgraded Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. Natl Bk Canada raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 17th. Jefferies Financial Group cut Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Toronto Dominion Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Stock Down 1.3%

The firm has a market cap of $163.36 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67. The stock’s 50 day moving average is $93.72 and its 200 day moving average is $83.70. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $10.10 billion. During the same period last year, the company posted $1.72 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Friday, January 9th were paid a dividend of $1.08 per share. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Friday, January 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is 37.25%.

Institutional Investors Weigh In On Toronto Dominion Bank

A number of institutional investors and hedge funds have recently bought and sold shares of TD. Norges Bank bought a new position in shares of Toronto Dominion Bank in the fourth quarter valued at $2,125,963,000. Canerector Inc. boosted its stake in shares of Toronto Dominion Bank by 11,028.0% during the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after acquiring an additional 22,056,000 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Toronto Dominion Bank in the 2nd quarter worth $267,475,000. Massachusetts Financial Services Co. MA raised its position in shares of Toronto Dominion Bank by 25.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank’s stock worth $1,432,854,000 after purchasing an additional 3,129,457 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Toronto Dominion Bank by 3.4% during the second quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock valued at $5,677,291,000 after purchasing an additional 2,552,603 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.