Bank of America Corporation reaffirmed their buy rating on shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in a report issued on Friday.

Other equities analysts have also recently issued reports about the stock. National Bank Financial upgraded shares of Toronto Dominion Bank (The) from a sector perform rating to an outperform rating in a report on Friday. BidaskClub upgraded shares of Toronto Dominion Bank (The) from a sell rating to a hold rating in a report on Saturday, August 26th. Zacks Investment Research lowered shares of Toronto Dominion Bank (The) from a buy rating to a hold rating in a report on Thursday, July 27th. Canaccord Genuity restated a buy rating and set a $72.00 price objective on shares of Toronto Dominion Bank (The) in a report on Thursday. Finally, Howard Weil upgraded shares of Toronto Dominion Bank (The) to an outperform rating in a report on Monday, August 21st. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Toronto Dominion Bank (The) presently has an average rating of Buy and an average price target of $65.20.

Shares of Toronto Dominion Bank (NYSE TD) traded up 1.66% during trading on Friday, hitting $54.50. The stock had a trading volume of 2,871,245 shares. The stock’s 50 day moving average is $51.38 and its 200-day moving average is $49.82. The company has a market cap of $100.47 billion, a PE ratio of 13.66 and a beta of 0.88. Toronto Dominion Bank has a 12-month low of $43.09 and a 12-month high of $54.54.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.05 billion. Toronto Dominion Bank (The) had a net margin of 22.85% and a return on equity of 14.71%. Toronto Dominion Bank (The)’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 earnings per share. Analysts forecast that Toronto Dominion Bank will post $4.32 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be issued a dividend of $0.475 per share. This is an increase from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.90 annualized dividend and a dividend yield of 3.49%. Toronto Dominion Bank (The)’s payout ratio is presently 46.37%.

Toronto Dominion Bank (The) announced that its Board of Directors has approved a stock repurchase program on Thursday, August 31st that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Several institutional investors have recently modified their holdings of the company. Family Management Corp lifted its holdings in shares of Toronto Dominion Bank (The) by 12.6% during the 2nd quarter. Family Management Corp now owns 79,872 shares of the bank’s stock worth $4,024,000 after acquiring an additional 8,935 shares during the period. Advisory Services Network LLC lifted its holdings in shares of Toronto Dominion Bank (The) by 26.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock worth $119,000 after acquiring an additional 487 shares during the period. Beaton Management Co. Inc. bought a new stake in shares of Toronto Dominion Bank (The) during the 2nd quarter worth approximately $3,709,000. Public Employees Retirement System of Ohio bought a new stake in shares of Toronto Dominion Bank (The) during the 2nd quarter worth approximately $12,948,000. Finally, Koch Industries Inc. lifted its holdings in shares of Toronto Dominion Bank (The) by 6,081.3% during the 2nd quarter. Koch Industries Inc. now owns 262,089 shares of the bank’s stock worth $257,000 after acquiring an additional 257,849 shares during the period. 47.85% of the stock is owned by institutional investors.

Toronto Dominion Bank (The) Company Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

Analyst Recommendations for Toronto Dominion Bank (The) (NYSE:TD)

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