Toronto Dominion Bank (The) (NYSE:TD) Stock Has Average Target Price of $156.00

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) has earned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $156.00.

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

Toronto Dominion Bank Trading Down 0.8%

Shares of Toronto Dominion Bank stock opened at $119.67 on Tuesday. The company has a market capitalization of $196.84 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.20 and a beta of 0.73. 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 12-month low of $77.26 and a 12-month high of $125.46. The firm’s 50-day moving average price is $120.68 and its two-hundred day moving average price is $112.93.

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

Toronto Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Friday, October 9th will be paid a C$1.12 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 annualized dividend and a yield of 3.7%. Toronto Dominion Bank’s dividend payout ratio (DPR) is 46.81%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cornerstone Financial Management LLC boosted its stake in shares of Toronto Dominion Bank by 77.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 218 shares of the bank’s stock valued at $26,000 after purchasing an additional 95 shares in the last quarter. Bayban acquired a new position in Toronto Dominion Bank during the 4th quarter worth approximately $28,000. Harvest Fund Management Co. Ltd lifted its stake in Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after purchasing an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC acquired a new stake in Toronto Dominion Bank in the fourth quarter valued at approximately $34,000. Finally, Brown Lisle Cummings Inc. boosted its position in Toronto Dominion Bank by 88.4% in the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock valued at $38,000 after buying an additional 191 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto Dominion Bank

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The bank was formed in 1955 through the merger of The Bank of Toronto and The Dominion Bank and serves customers in Canada and the United States.

TD provides a broad range of banking and financial services, including personal and commercial deposit accounts, lending, mortgages, credit cards, payments, investment products and financial advice. Its Canadian operations serve individuals, businesses and institutions, while its U.S.