Toronto Dominion Bank (The) (NYSE:TD) Receives $156.00 Consensus PT from Brokerages

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $156.00.

TD has been the topic of a number of recent analyst reports. Weiss Ratings lowered Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 11th. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rathbones Group PLC lifted its holdings in Toronto Dominion Bank by 2.3% in the 1st quarter. Rathbones Group PLC now owns 32,019 shares of the bank’s stock valued at $2,981,000 after purchasing an additional 734 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Toronto Dominion Bank by 8.4% in the 1st quarter. Parallel Advisors LLC now owns 6,378 shares of the bank’s stock valued at $595,000 after purchasing an additional 494 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Toronto Dominion Bank by 4.7% in the 1st quarter. NewEdge Advisors LLC now owns 9,171 shares of the bank’s stock valued at $856,000 after purchasing an additional 410 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Toronto Dominion Bank by 14.2% in the 1st quarter. Glenmede Trust Co. NA now owns 13,250 shares of the bank’s stock worth $1,236,000 after purchasing an additional 1,647 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Toronto Dominion Bank by 7.8% in the 1st quarter. Bank of America Corp DE now owns 4,967,545 shares of the bank’s stock worth $463,522,000 after purchasing an additional 358,412 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Trading Up 0.8%

Toronto Dominion Bank stock opened at $118.24 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12 month low of $70.50 and a 12 month high of $118.60. The stock’s 50 day simple moving average is $108.33 and its two-hundred day simple moving average is $98.92. The firm has a market cap of $195.39 billion, a PE ratio of 18.45, a P/E/G ratio of 1.30 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the company posted $1.97 EPS. The company’s revenue for the quarter was down 31.1% on a year-over-year basis. Analysts anticipate that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is 48.52%.

About Toronto Dominion Bank

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.