The Toronto-Dominion Bank [TD] is -7.52% lower this YTD. Is it still time to buy?

The Toronto-Dominion Bank [NYSE: TD] loss -0.91% or -0.55 points to close at $59.89 with a heavy trading volume of 3529559 shares. The company report on April 11, 2023 that First-time Homebuyers See Now as a Good Time to Buy Despite Market Uncertainty, TD Bank Survey Finds.

TD’s First-Time Homebuyer Pulse reveals that more than one-third of buyers planning to purchase a home in 2023 view now as a good time to buy, despite economic conditions; rising rent costs may contribute to this growing interest.

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Amid cooling inflation and rising housing costs, many first-time homebuyers feel more certain about their financial situations, according to a recent study from TD Bank, America’s Most Convenient Bank®.  TD’s First-Time Homebuyer Pulse found that 54% of respondents indicate they are now better off financially than they were two years ago. And while buyers’ perception of the economy and affordability continue to draw concern, rising rent may be driving homeownership interest.

It opened the trading session at $60.59, the shares rose to $60.81 and dropped to $59.63, the range by which the price of stock traded the whole day. The daily chart for TD points out that the company has recorded 1.37% gains over the past six months. However, it is still -8.05% lower than its most recent low trading price.

If we look at the average trading volume of 2.34M shares, TD reached to a volume of 3529559 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $73.89 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 2.30. 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.

Scotiabank have made an estimate for The Toronto-Dominion Bank shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on March 03, 2023. The new note on the price target was released on December 02, 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 1.27, with the Price to Sales ratio for TD stock in the period of the last 12 months amounting to 2.85. The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 307.98. Price to Free Cash Flow for TD in the course of the last twelve months was 16.51.

Trading performance analysis for TD stock

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 -1.07. With this latest performance, TD shares gained by 1.58% in over the last four-week period, additionally plugging by 1.37% over the last 6 months – not to mention a drop of -22.18% 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 47.42, with the RSI for the last a single of trading hit 51.71, and the three-weeks RSI is set at 44.89 for The Toronto-Dominion Bank [TD]. The present Moving Average for the last 50 days of trading for this stock 63.43, while it was recorded at 59.53 for the last single week of trading, and 64.51 for the last 200 days.

The Toronto-Dominion Bank [TD]: An earnings per share (EPS) analysis

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 10.45%.

An analysis of insider ownership at The Toronto-Dominion Bank [TD]

There are presently around $57,185 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 158,151,533, which is approximately 1.482% of the company’s market cap and around 0.10% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 89,044,008 shares of the stock with an approximate value of $5.38 billion in TD stocks shares; and VANGUARD GROUP INC, currently with $4.16 billion in TD stock with ownership of nearly 2.428% of the company’s market capitalization.

Positions in The Toronto-Dominion Bank stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 313 institutional holders increased their position in The Toronto-Dominion Bank [NYSE:TD] by around 32,717,301 shares. Additionally, 278 investors decreased positions by around 30,188,259 shares, while 155 investors held positions by with 883,240,078 shares. The mentioned changes placed institutional holdings at 946,145,638 shares, according to the latest SEC report filing. TD stock had 85 new institutional investments in for a total of 4,405,096 shares, while 42 institutional investors sold positions of 1,657,550 shares during the same period.


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