Toronto Dominion Bank (The) (NYSE:TD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $156.00.

Several research analysts recently issued reports on the company. Weiss Ratings raised Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Keefe, Bruyette & Woods began coverage on shares of Toronto Dominion Bank in a research note on Friday, August 21st. They set a “market perform” rating on the stock. Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Finally, Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th.

Institutional Trading of Toronto Dominion Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hillsdale Investment Management Inc. raised its holdings in Toronto Dominion Bank by 3.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank’s stock valued at $112,185,000 after acquiring an additional 34,921 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Toronto Dominion Bank in the 4th quarter valued at $299,850,000. State of Wyoming grew its holdings in Toronto Dominion Bank by 1,018.7% in the 1st quarter. State of Wyoming now owns 22,765 shares of the bank’s stock valued at $2,119,000 after buying an additional 20,730 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Toronto Dominion Bank in the 2nd quarter worth $202,900,000. Finally, Ninepoint Partners LP acquired a new stake in shares of Toronto Dominion Bank in the 2nd quarter worth $29,903,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Performance

Shares of TD stock opened at $123.23 on Friday. The firm has a market cap of $202.69 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.21 and a beta of 0.73. The company’s 50 day moving average is $120.72 and its 200 day moving average is $110.01. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52-week low of $74.11 and a 52-week high of $125.46.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.24. The company had revenue of $12.07 billion during the quarter, compared to the consensus estimate of $10.70 billion. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. Toronto Dominion Bank’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. On average, sell-side analysts anticipate that Toronto Dominion Bank will post 7.04 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Friday, October 9th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, October 9th. Toronto Dominion Bank’s payout ratio is presently 46.81%.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.