The Toronto-Dominion Bank (NYSE:TD) Receives $55.97 Average Target Price from Brokerages
Shares of The Toronto-Dominion Bank (NYSE:TD) have been assigned a consensus rating of “Buy” from the fifteen brokerages that are currently covering the company. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $55.97.
Several equities research analysts have issued reports on the stock. Bank of America Corp. reiterated a “buy” rating on shares of The Toronto-Dominion Bank in a research note on Tuesday, July 12th. Canaccord Genuity reiterated a “buy” rating and issued a $23.00 price target on shares of The Toronto-Dominion Bank in a research note on Wednesday, June 8th. Barclays PLC reiterated an “underweight” rating and issued a $55.00 price target (up from $51.00) on shares of The Toronto-Dominion Bank in a research note on Sunday, August 21st. CIBC downgraded shares of The Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, August 26th. Finally, Citigroup Inc. lifted their price objective on shares of The Toronto-Dominion Bank from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, September 14th.
A number of hedge funds have recently modified their holdings of the company. First New York Securities LLC NY acquired a new stake in shares of The Toronto-Dominion Bank during the second quarter valued at $107,000. Zions Bancorporation boosted its stake in shares of The Toronto-Dominion Bank by 282.5% in the first quarter. Zions Bancorporation now owns 2,639 shares of the company’s stock valued at $115,000 after buying an additional 1,949 shares during the period. Cribstone Capital Management LLC acquired a new stake in shares of The Toronto-Dominion Bank during the second quarter valued at $118,000. Teachers Advisors Inc. boosted its stake in shares of The Toronto-Dominion Bank by 993.0% in the second quarter. Teachers Advisors Inc. now owns 2,820 shares of the company’s stock valued at $121,000 after buying an additional 2,562 shares during the period. Finally, AHL Partners LLP acquired a new stake in shares of The Toronto-Dominion Bank during the second quarter valued at $201,000. Institutional investors and hedge funds own 51.77% of the company’s stock.
The Toronto-Dominion Bank (NYSE:TD) opened at 44.40 on Friday. The Toronto-Dominion Bank has a 12 month low of $33.49 and a 12 month high of $45.98. The firm has a market cap of $82.35 billion, a price-to-earnings ratio of 13.23 and a beta of 0.98. The stock’s 50 day moving average is $44.29 and its 200-day moving average is $43.57.
The Toronto-Dominion Bank (NYSE:TD) last issued its quarterly earnings results on Thursday, August 25th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.06. The Toronto-Dominion Bank had a net margin of 21.02% and a return on equity of 13.56%. The firm had revenue of $8.70 billion for the quarter. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that The Toronto-Dominion Bank will post $3.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 7th will be paid a $0.4249 dividend. This is a boost from The Toronto-Dominion Bank’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.70 annualized dividend and a yield of 3.83%. The Toronto-Dominion Bank’s payout ratio is 50.45%.
The Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank conducts its business through segments, such as Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses, including credit cards, auto finance, wealth and insurance businesses.
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