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Toronto-Dominion Bank said on March 2, 2023 that its board of directors declared a regular
quarterly dividend of $0.96 per share ($3.84 annualized).
Previously, the company paid $0.96 per share.
Shares must be purchased before the ex-div date of April 5, 2023 to qualify for the dividend.
Shareholders of record as of April 6, 2023
will receive the payment on April 30, 2023.
At the current share price of $65.49 / share,
the stock’s dividend yield is 5.86%.
Additionally, the company’s dividend payout ratio is 0.42.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 18.11% Upside
As of March 4, 2023,
the average one-year price target for Toronto-Dominion Bank is $77.35.
The forecasts range from a low of $64.81 to a high of $88.53.
The average price target represents an increase of 18.11% from its latest reported closing price of $65.49.
The projected annual revenue for Toronto-Dominion Bank
is $54,056MM.
The projected annual non-GAAP EPS
is $9.31.
What is the Fund Sentiment?
There are 1024 funds or institutions reporting positions in Toronto-Dominion Bank.
This is an increase
of
42
owner(s) or 4.28% in the last quarter.
Average portfolio weight of all funds dedicated to TD is 0.51%,
a decrease
of 4.37%.
Total shares owned by institutions increased
in the last three months by 2.43% to 1,022,461K shares.
The put/call ratio of TD is 0.55, indicating a
bullish
outlook.
What are large shareholders doing?
Royal Bank Of Canada
holds 158,152K shares
representing 8.72% ownership of the company.
In it’s prior filing, the firm reported owning 155,842K shares, representing
an increase
of 1.46%.
The firm
decreased
its portfolio allocation in TD by 2.38% over the last quarter.
Bank Of Montreal
holds 89,044K shares
representing 4.91% ownership of the company.
In it’s prior filing, the firm reported owning 92,794K shares, representing
a decrease
of 4.21%.
The firm
decreased
its portfolio allocation in TD by 99.90% over the last quarter.
Capital Research Global Investors
holds 38,271K shares
representing 2.11% ownership of the company.
In it’s prior filing, the firm reported owning 37,922K shares, representing
an increase
of 0.91%.
The firm
decreased
its portfolio allocation in TD by 1.99% over the last quarter.
Td Asset Management
holds 36,167K shares
representing 1.99% ownership of the company.
In it’s prior filing, the firm reported owning 36,535K shares, representing
a decrease
of 1.02%.
The firm
decreased
its portfolio allocation in TD by 37.02% over the last quarter.
CIBC World Markets
holds 35,396K shares
representing 1.95% ownership of the company.
In it’s prior filing, the firm reported owning 33,742K shares, representing
an increase
of 4.67%.
The firm
decreased
its portfolio allocation in TD by 99.90% over the last quarter.
Toronto Dominion Bank Background Information
(This description is provided by the company.)
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (‘TD’ or the ‘Bank’). TD is the sixth largest bank in North America by branches and serves over 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America’s Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world’s leading online financial services firms, with more than 14 million active online and mobile customers. TD had CDN$1.7 trillionin assets on October 31, 2020.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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