Short Interest in The Toronto-Dominion Bank (NYSE:TD) Increases By 55.6%

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 49,950,000 shares, an increase of 55.6% from the September 30th total of 32,110,000 shares. Based on an average daily volume of 2,620,000 shares, the days-to-cover ratio is presently 19.1 days. Currently, 2.9% of the company’s shares are sold short.

Toronto-Dominion Bank Stock Down 0.9 %

Shares of TD traded down $0.51 on Friday, hitting $56.34. 1,300,654 shares of the stock traded hands, compared to its average volume of 2,806,156. Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.12. The business has a 50 day simple moving average of $60.52 and a 200 day simple moving average of $57.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $98.45 billion, a PE ratio of 12.80, a P/E/G ratio of 1.68 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 EPS. As a group, equities analysts forecast that Toronto-Dominion Bank will post 5.82 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.739 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.25%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 68.41%.

Institutional Trading of Toronto-Dominion Bank

Several hedge funds have recently bought and sold shares of the stock. Triad Wealth Partners LLC purchased a new stake in Toronto-Dominion Bank during the 2nd quarter valued at approximately $31,000. Blue Trust Inc. lifted its position in shares of Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after buying an additional 212 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Toronto-Dominion Bank in the second quarter valued at $49,000. BOKF NA grew its position in Toronto-Dominion Bank by 203.6% in the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after acquiring an additional 680 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Toronto-Dominion Bank in the third quarter valued at $66,000. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TD shares. UBS Group assumed coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $84.00.

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.