The Toronto-Dominion Bank [NYSE: TD] price plunged by -5.57 percent to reach at -$3.58. The company report on October 6, 2022 that TD Announces Non-Viability Contingent Capital AT1 Limited Recourse Capital Notes Issue.
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The Toronto-Dominion Bank (“TD”) (TSX: TD) (NYSE: TD) today announced the pricing of a U.S. public offering of US$1.75 billion 8.125% Fixed Rate Reset Limited Recourse Capital Notes, Series 3 (Non-Viability Contingent Capital (NVCC)) (the “LRCNs”). The LRCNs will be registered with the U.S. Securities and Exchange Commission (the “SEC”).
The LRCNs will bear interest at a rate of 8.125 per cent annually, payable quarterly, for the initial period ending on, but excluding, October 31, 2027. Thereafter, the interest rate on the LRCNs will reset every five years at a rate equal to the prevailing U.S. Treasury Rate plus 4.075 per cent. The LRCNs will mature on October 31, 2082. The expected closing date of the offering is October 17, 2022, subject to customary closing conditions.
A sum of 4485870 shares traded at recent session while its average daily volume was at 1.90M shares. The Toronto-Dominion Bank shares reached a high of $63.05 and dropped to a low of $60.36 until finishing in the latest session at $60.68.
The one-year TD stock forecast points to a potential upside of 19.53. The average equity rating for TD stock is currently 1.60, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on The Toronto-Dominion Bank [TD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TD shares is $75.41 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TD stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Keefe Bruyette have made an estimate for The Toronto-Dominion Bank shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 02, 2022. The new note on the price target was released on August 26, 2022, representing the official price target for The Toronto-Dominion Bank stock.
The Average True Range (ATR) for The Toronto-Dominion Bank is set at 1.82, with the Price to Sales ratio for TD stock in the period of the last 12 months amounting to 4.55. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 284.42. Price to Free Cash Flow for TD in the course of the last twelve months was 3.67.
TD Stock Performance Analysis:
The Toronto-Dominion Bank [TD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.08. With this latest performance, TD shares dropped by -6.55% in over the last four-week period, additionally sinking by -23.31% over the last 6 months – not to mention a drop of -10.66% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TD stock in for the last two-week period is set at 38.41, with the RSI for the last a single of trading hit 36.12, and the three-weeks RSI is set at 40.17 for The Toronto-Dominion Bank [TD]. The present Moving Average for the last 50 days of trading for this stock 65.20, while it was recorded at 62.95 for the last single week of trading, and 72.50 for the last 200 days.
Insight into The Toronto-Dominion Bank Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and The Toronto-Dominion Bank [TD] shares currently have an operating margin of +35.69. The Toronto-Dominion Bank’s Net Margin is presently recorded at +29.70.
Return on Equity for this stock inclined to 14.64, with Return on Assets sitting at 0.83.
TD Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Toronto-Dominion Bank go to 8.65%.
The Toronto-Dominion Bank [TD] Insider Position Details
There are presently around $55,519 million, or 66.70% of TD stock, in the hands of institutional investors. The top three institutional holders of TD stocks are: ROYAL BANK OF CANADA with ownership of 151,226,362, which is approximately 7.578% of the company’s market cap and around 0.09% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 78,892,287 shares of the stock with an approximate value of $4.79 billion in TD stocks shares; and VANGUARD GROUP INC, currently with $3.94 billion in TD stock with ownership of nearly 2.484% of the company’s market capitalization.
Positions in The Toronto-Dominion Bank stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 341 institutional holders increased their position in The Toronto-Dominion Bank [NYSE:TD] by around 66,070,271 shares. Additionally, 291 investors decreased positions by around 31,454,620 shares, while 157 investors held positions by with 817,415,368 shares. The mentioned changes placed institutional holdings at 914,940,259 shares, according to the latest SEC report filing. TD stock had 67 new institutional investments in for a total of 2,317,263 shares, while 80 institutional investors sold positions of 2,812,244 shares during the same period.