National Bank Financial Comments on The Toronto-Dominion Bank’s FY2024 Earnings (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Stock analysts at National Bank Financial decreased their FY2024 earnings per share estimates for shares of Toronto-Dominion Bank in a research note issued to investors on Thursday, August 15th. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings per share of $5.78 for the year, down from their prior forecast of $5.81. National Bank Financial currently has a “Underperform” rating on the stock. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.87 per share. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q4 2024 earnings at $1.36 EPS and FY2025 earnings at $5.71 EPS.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, beating the consensus estimate of $1.35 by $0.15. The business had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%.

Several other equities research analysts also recently commented on the company. UBS Group began coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. BMO Capital Markets dropped their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. StockNews.com upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Cibc World Mkts upgraded Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and an average target price of $88.00.

Toronto-Dominion Bank Stock Performance

Shares of NYSE:TD opened at $59.43 on Monday. The company has a market cap of $103.85 billion, a P/E ratio of 13.51, a PEG ratio of 1.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.12. The business’s 50-day simple moving average is $56.53 and its 200 day simple moving average is $57.66.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TD. Mather Group LLC. acquired a new position in shares of Toronto-Dominion Bank in the 1st quarter worth approximately $29,000. LifeSteps Financial Inc. acquired a new position in shares of Toronto-Dominion Bank in the 1st quarter worth approximately $30,000. Triad Wealth Partners LLC acquired a new position in Toronto-Dominion Bank during the 2nd quarter valued at approximately $31,000. Bank of New Hampshire acquired a new position in Toronto-Dominion Bank during the 4th quarter valued at approximately $32,000. Finally, Avior Wealth Management LLC boosted its position in Toronto-Dominion Bank by 92.9% during the 4th quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock valued at $38,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a $0.74 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $2.96 annualized dividend and a dividend yield of 4.98%. Toronto-Dominion Bank’s payout ratio is 67.73%.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.