Toronto-Dominion Bank (TSE:TD) Posts Earnings Results

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) issued its quarterly earnings data on Thursday. The company reported C$2.38 earnings per share (EPS) for the quarter, FiscalAI reports. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.24%.The company had revenue of C$16.04 billion during the quarter.

Toronto-Dominion Bank Stock Up 1.0%

Shares of TD stock opened at C$157.75 on Friday. The stock has a 50-day moving average price of C$142.06 and a 200 day moving average price of C$132.25. The firm has a market cap of C$263.26 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.22 and a beta of 0.92. Toronto-Dominion Bank has a 12 month low of C$94.05 and a 12 month high of C$157.75.

Toronto-Dominion Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 30th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, April 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 34.25%.

Analyst Ratings Changes

A number of research firms recently issued reports on TD. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from C$142.00 to C$150.00 in a report on Monday, May 4th. Canadian Imperial Bank of Commerce lifted their price target on Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the company a “neutral” rating in a report on Friday. Jefferies Financial Group lifted their price target on Toronto-Dominion Bank from C$134.00 to C$142.00 in a report on Wednesday, May 20th. Canaccord Genuity Group lifted their price target on Toronto-Dominion Bank from C$158.00 to C$169.00 and gave the company a “buy” rating in a report on Friday. Finally, Royal Bank Of Canada cut their price target on Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$148.50.

Key Headlines Impacting Toronto-Dominion Bank

Here are the key news stories impacting Toronto-Dominion Bank this week:

• Positive Sentiment: Toronto-Dominion Bank beat quarterly earnings expectations, reporting C$2.38 EPS on revenue of C$16.04 billion, which helped reinforce confidence in the bank’s earnings power. TD beats analysts’ earnings expectations, hikes dividend
• Positive Sentiment: The company also raised its dividend, a sign management has increasing confidence in cash generation and capital strength. TD beats analysts’ earnings expectations, hikes dividend
• Positive Sentiment: Results from Canadian banking, capital markets, and wealth management were strong, with reports noting a record quarter for wealth and improved activity in capital markets amid volatile conditions. TD’s Earnings Beat Caps Off Strong Quarter for Canadian Banks
• Positive Sentiment: Multiple brokerages raised their price targets, including Desjardins to C$160, National Bank Financial to C$162, Canaccord to C$169, and Raymond James to C$155, signaling improving analyst sentiment around TD’s outlook.
• Neutral Sentiment: Canadian Imperial Bank of Commerce raised its target to C$164 but kept a neutral rating, suggesting the stock may be fairly valued after the rally.
• Negative Sentiment: Barclays remained cautious with an underweight rating, even while lifting its target to C$140, highlighting that not all analysts see upside at current levels.

About Toronto-Dominion Bank

TD Asset Management Inc (‘TDAM’), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.