Canaccord Genuity reissued their buy rating on shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in a research report released on Thursday morning. They currently have a $72.00 target price on the bank’s stock.

Several other brokerages have also commented on TD. BidaskClub upgraded shares of Toronto Dominion Bank (The) from a sell rating to a hold rating in a research note on Tuesday, June 13th. Zacks Investment Research lowered shares of Toronto Dominion Bank (The) from a hold rating to a sell rating in a research note on Thursday, May 4th. Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank (The) from $68.00 to $70.00 and gave the stock a sector perform rating in a research note on Friday, May 26th. Scotiabank upgraded shares of Toronto Dominion Bank (The) from a sector perform rating to an outperform rating in a research note on Monday, August 21st. Finally, Howard Weil upgraded shares of Toronto Dominion Bank (The) to an outperform rating in a research note on Monday, August 21st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $65.20.

Shares of Toronto Dominion Bank (TD) opened at 54.50 on Thursday. The stock has a market capitalization of $100.47 billion, a price-to-earnings ratio of 13.66 and a beta of 0.88. The stock’s 50 day moving average is $51.38 and its 200-day moving average is $49.82. Toronto Dominion Bank has a one year low of $43.09 and a one year high of $54.54.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, August 31st. The bank reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.06. Toronto Dominion Bank (The) had a net margin of 22.85% and a return on equity of 14.71%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same period last year, the business earned $1.27 EPS. The company’s revenue was up 6.7% on a year-over-year basis. On average, equities research analysts predict that Toronto Dominion Bank will post $4.32 EPS for the current fiscal year.

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Toronto Dominion Bank (The) declared that its Board of Directors has initiated a stock buyback program on Thursday, August 31st that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the bank to repurchase 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.

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

A number of institutional investors have recently modified their holdings of TD. Public Sector Pension investment Board grew its position in Toronto Dominion Bank (The) by 1,745.0% during the 2nd quarter. Public Sector Pension investment Board now owns 3,658,692 shares of the bank’s stock worth $184,104,000 after purchasing an additional 3,881,100 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Toronto Dominion Bank (The) by 3,364.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,899,388 shares of the bank’s stock worth $145,896,000 after purchasing an additional 2,815,688 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Toronto Dominion Bank (The) by 44.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,535,700 shares of the bank’s stock worth $329,248,000 after purchasing an additional 2,022,507 shares during the last quarter. Vanguard Group Inc. grew its position in Toronto Dominion Bank (The) by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 41,532,070 shares of the bank’s stock worth $2,092,385,000 after purchasing an additional 2,014,823 shares during the last quarter. Finally, Capital International Investors grew its position in Toronto Dominion Bank (The) by 45.9% during the 2nd quarter. Capital International Investors now owns 5,258,400 shares of the bank’s stock worth $264,918,000 after purchasing an additional 1,654,000 shares during the last quarter. 47.85% of the stock is currently owned by institutional investors.

About Toronto Dominion Bank (The)

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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