Toronto-Dominion Bank (NYSE:TD) Sees Significant Decline in Short Interest

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 4,097,100 shares, a decrease of 16.3% from the July 31st total of 4,897,400 shares. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 0.2% of the shares of the company are short sold.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday. BMO Capital Markets downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $85.00 to $78.00 in a report on Friday, August 30th. Bank of America downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and cut their price target for the stock from $82.00 to $77.00 in a report on Thursday, August 15th. Barclays set a $80.00 price target on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, National Bank Financial set a $84.00 price target on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Friday, August 30th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $78.56.

Institutional investors have recently added to or reduced their stakes in the business. Cornerstone Advisors Inc. lifted its position in shares of Toronto-Dominion Bank by 5.4% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,746 shares of the bank’s stock valued at $219,000 after buying an additional 193 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its position in shares of Toronto-Dominion Bank by 8.6% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,714 shares of the bank’s stock valued at $158,000 after buying an additional 214 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Toronto-Dominion Bank by 0.8% during the 2nd quarter. Private Advisor Group LLC now owns 28,916 shares of the bank’s stock valued at $1,584,000 after buying an additional 220 shares in the last quarter. BlackRock Inc. lifted its position in shares of Toronto-Dominion Bank by 19.5% during the 2nd quarter. BlackRock Inc. now owns 1,386 shares of the bank’s stock valued at $81,000 after buying an additional 226 shares in the last quarter. Finally, Eagle Ridge Investment Management lifted its position in shares of Toronto-Dominion Bank by 0.3% during the 2nd quarter. Eagle Ridge Investment Management now owns 84,494 shares of the bank’s stock valued at $4,931,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 50.31% of the company’s stock.

Toronto-Dominion Bank stock traded up $0.16 during mid-day trading on Friday, hitting $56.70. The company had a trading volume of 1,791,092 shares, compared to its average volume of 1,196,985. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Toronto-Dominion Bank has a 12-month low of $47.73 and a 12-month high of $62.00. The company’s fifty day moving average is $55.67 and its 200-day moving average is $56.41. The company has a market capitalization of $103.07 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 2.16 and a beta of 1.07.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 29th. The bank reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.45. Toronto-Dominion Bank had a return on equity of 16.08% and a net margin of 20.02%. The business had revenue of $10.50 billion for the quarter, compared to analyst estimates of $9.80 billion. During the same quarter in the prior year, the firm posted $1.66 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts expect that Toronto-Dominion Bank will post 5.14 EPS for the current fiscal year.

The business also recently disclosed a — dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.556 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a yield of 4.1%. Toronto-Dominion Bank’s dividend payout ratio is presently 44.93%.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

Further Reading: Market Perform

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