National Bank Financial Comments on Toronto-Dominion Bank’s Q1 2020 Earnings (NYSE:TD)
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Equities research analysts at National Bank Financial dropped their Q1 2020 EPS estimates for Toronto-Dominion Bank in a report issued on Thursday, December 5th. National Bank Financial analyst G. Dechaine now expects that the bank will earn $1.25 per share for the quarter, down from their prior forecast of $1.29. National Bank Financial has a “Buy” rating and a $84.00 price target on the stock. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q2 2020 earnings at $1.29 EPS and FY2021 earnings at $5.36 EPS.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, December 5th. The bank reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.28. Toronto-Dominion Bank had a net margin of 19.76% and a return on equity of 15.85%. The company had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.08 billion. During the same quarter last year, the company posted $1.63 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis.
Shares of TD opened at $55.35 on Monday. The firm has a market cap of $100.78 billion, a PE ratio of 11.00, a P/E/G ratio of 1.85 and a beta of 1.05. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $57.46 and a two-hundred day simple moving average of $56.86. Toronto-Dominion Bank has a 1-year low of $47.73 and a 1-year high of $59.55.
Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in Toronto-Dominion Bank by 2.1% in the second quarter. Janney Montgomery Scott LLC now owns 38,485 shares of the bank’s stock worth $2,246,000 after buying an additional 779 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Toronto-Dominion Bank by 9.6% in the second quarter. First Trust Advisors LP now owns 580,200 shares of the bank’s stock worth $33,860,000 after purchasing an additional 50,655 shares during the last quarter. Investment Partners LTD. bought a new stake in shares of Toronto-Dominion Bank in the second quarter worth about $208,000. Highstreet Asset Management Inc. lifted its position in shares of Toronto-Dominion Bank by 21.5% in the second quarter. Highstreet Asset Management Inc. now owns 2,421,994 shares of the bank’s stock worth $141,523,000 after buying an additional 428,773 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its position in shares of Toronto-Dominion Bank by 11.0% in the second quarter. Intact Investment Management Inc. now owns 2,211,595 shares of the bank’s stock worth $168,944,000 after buying an additional 219,700 shares in the last quarter. Institutional investors and hedge funds own 47.39% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be given a $0.5605 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 4.05%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 44.53%.
Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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