Desjardins Weighs in on The Toronto-Dominion Bank’s Q2 2022 Earnings (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) – Research analysts at Desjardins dropped their Q2 2022 EPS estimates for shares of Toronto-Dominion Bank in a research report issued on Monday, May 9th. Desjardins analyst D. Young now expects that the bank will earn $1.50 per share for the quarter, down from their previous forecast of $1.60. Desjardins also issued estimates for Toronto-Dominion Bank’s FY2022 earnings at $6.40 EPS and FY2023 earnings at $7.18 EPS.

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last released its earnings results on Thursday, March 3rd. The bank reported $2.08 EPS for the quarter, topping the consensus estimate of $2.05 by $0.03. Toronto-Dominion Bank had a return on equity of 16.18% and a net margin of 30.57%. The firm had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $10.28 billion. During the same period in the previous year, the firm posted $1.42 EPS. Toronto-Dominion Bank’s revenue for the quarter was up 4.3% on a year-over-year basis.

A number of other research analysts also recently commented on TD. StockNews.com initiated coverage on Toronto-Dominion Bank in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Scotiabank dropped their price objective on Toronto-Dominion Bank from C$116.00 to C$105.00 in a report on Wednesday, April 13th. National Bank Financial downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Monday, March 7th. Stifel Nicolaus dropped their price objective on Toronto-Dominion Bank from C$105.00 to C$104.00 in a report on Friday, April 8th. Finally, Zacks Investment Research raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $100.11.

TD opened at $71.13 on Thursday. Toronto-Dominion Bank has a 12 month low of $62.81 and a 12 month high of $86.01. The stock has a market capitalization of $128.42 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.35 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. The business has a fifty day moving average price of $76.29 and a 200 day moving average price of $77.09.

The business also recently declared a quarterly dividend, which was paid on Saturday, April 30th. Shareholders of record on Friday, April 8th were given a dividend of $0.702 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, April 7th. This represents a $2.81 annualized dividend and a yield of 3.95%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 44.81%.

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its position in shares of Toronto-Dominion Bank by 101.4% in the third quarter. SG Americas Securities LLC now owns 9,526 shares of the bank’s stock valued at $630,000 after purchasing an additional 4,796 shares during the period. Advisor Group Holdings Inc. grew its position in shares of Toronto-Dominion Bank by 41.3% in the third quarter. Advisor Group Holdings Inc. now owns 53,113 shares of the bank’s stock valued at $3,516,000 after purchasing an additional 15,519 shares during the period. Advisory Services Network LLC grew its position in shares of Toronto-Dominion Bank by 6.5% in the third quarter. Advisory Services Network LLC now owns 3,602 shares of the bank’s stock valued at $238,000 after purchasing an additional 221 shares during the period. Pinebridge Investments L.P. purchased a new stake in shares of Toronto-Dominion Bank in the third quarter valued at $2,289,000. Finally, BlackRock Inc. grew its position in shares of Toronto-Dominion Bank by 1.4% in the third quarter. BlackRock Inc. now owns 812,683 shares of the bank’s stock valued at $53,759,000 after purchasing an additional 11,252 shares during the period. 50.00% of the stock is owned by institutional investors.

Toronto-Dominion Bank Company Profile (Get Rating)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.

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