Short Interest in The Toronto-Dominion Bank (NYSE:TD) Decreases By 56.7%

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 21,640,000 shares, a decrease of 56.7% from the October 15th total of 49,950,000 shares. Based on an average daily volume of 2,630,000 shares, the short-interest ratio is currently 8.2 days. Approximately 1.2% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and an average price target of $84.00.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in shares of Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after purchasing an additional 2,689,532 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Toronto-Dominion Bank by 61.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock valued at $319,151,000 after acquiring an additional 2,215,185 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Toronto-Dominion Bank by 31.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock worth $549,550,000 after purchasing an additional 2,188,263 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Toronto-Dominion Bank by 6.2% during the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock worth $1,677,917,000 after purchasing an additional 1,736,931 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in Toronto-Dominion Bank by 6.0% in the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after buying an additional 1,462,794 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

NYSE:TD traded down $0.05 during trading hours on Wednesday, hitting $56.09. 1,420,328 shares of the company’s stock traded hands, compared to its average volume of 2,766,491. Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $65.12. The firm has a market cap of $98.07 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.60 and a beta of 0.82. The business’s fifty day simple moving average is $59.69 and its two-hundred day simple moving average is $57.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, research analysts anticipate that Toronto-Dominion Bank will post 5.8 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 96.49%.

Toronto-Dominion Bank Company Profile

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.