The Toronto-Dominion Bank (NYSE:TD) Short Interest Down 42.6% in April – Defense World

Posted by on May 14th, 2022

Toronto-Dominion Bank logoThe Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totalling 10,040,000 shares, a decrease of 42.6% from the April 15th total of 17,480,000 shares. Based on an average trading volume of 2,530,000 shares, the short-interest ratio is presently 4.0 days. Currently, 0.6% of the shares of the company are short sold.

Several research firms recently commented on TD. Stifel Nicolaus decreased their price target on shares of Toronto-Dominion Bank from C$105.00 to C$104.00 in a research note on Friday, April 8th. Desjardins upped their price target on shares of Toronto-Dominion Bank from C$110.00 to C$113.00 in a research note on Monday, March 7th. StockNews.com started coverage on shares of Toronto-Dominion Bank in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Friday, April 29th. Finally, CIBC cut shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a research report on Monday, April 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Toronto-Dominion Bank has an average rating of “Hold” and an average price target of $100.11.

NYSE:TD traded up $0.59 on Friday, reaching $71.13. 2,408,082 shares of the stock traded hands, compared to its average volume of 3,240,775. The firm has a market capitalization of $128.42 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.96. Toronto-Dominion Bank has a 1-year low of $62.81 and a 1-year high of $86.01. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $76.29 and its 200-day moving average is $77.09.

Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) last issued its earnings results on Thursday, March 3rd. The bank reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $10.28 billion. During the same period last year, the business earned $1.42 EPS. Toronto-Dominion Bank’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Toronto-Dominion Bank will post 6.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 30th. Investors of record on Friday, April 8th were issued a $0.702 dividend. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $2.81 annualized dividend and a yield of 3.95%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.70. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 44.81%.

A number of institutional investors and hedge funds have recently made changes to their positions in TD. Vanguard Group Inc. grew its holdings in shares of Toronto-Dominion Bank by 3.5% during the first quarter. Vanguard Group Inc. now owns 63,426,069 shares of the bank’s stock worth $5,037,298,000 after purchasing an additional 2,164,712 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Toronto-Dominion Bank by 6.5% during the fourth quarter. Capital Research Global Investors now owns 50,022,490 shares of the bank’s stock valued at $3,835,082,000 after buying an additional 3,059,059 shares during the period. Norges Bank purchased a new stake in Toronto-Dominion Bank in the fourth quarter worth $1,698,122,000. The Manufacturers Life Insurance Company grew its stake in Toronto-Dominion Bank by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 16,835,940 shares of the bank’s stock worth $1,411,693,000 after purchasing an additional 537,054 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Toronto-Dominion Bank by 12.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,243,311 shares of the bank’s stock worth $1,129,773,000 after acquiring an additional 1,599,227 shares during the last quarter. 50.00% of the stock is owned by institutional investors.

About Toronto-Dominion Bank (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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