Toronto Dominion Bank (The) (NYSE:TD) Receives $93.00 Average Price Target from Brokerages

Shares of Toronto Dominion Bank (The) (NYSE:TDGet Free Report) (TSE:TD) have been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $93.00.

A number of research analysts have recently issued reports on the stock. Scotiabank assumed coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They set a “sector perform” rating for the company. Royal Bank Of Canada lifted their price objective on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a “sector perform” rating in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, May 24th.

Get Our Latest Analysis on TD

Toronto Dominion Bank Stock Down 1.0%

Shares of NYSE TD opened at $74.15 on Thursday. The stock has a market capitalization of $127.57 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.69 and a beta of 0.83. The company has a 50-day moving average price of $71.65 and a 200-day moving average price of $63.85. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $75.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) last issued its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $13.36 billion. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. During the same period last year, the company earned $2.04 earnings per share. On average, equities research analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a dividend of $0.7568 per share. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $0.73. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, July 10th. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 45.31%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Toronto Dominion Bank by 0.7% in the first quarter. Vanguard Group Inc. now owns 74,634,839 shares of the bank’s stock worth $4,472,194,000 after acquiring an additional 516,288 shares during the period. FIL Ltd raised its position in Toronto Dominion Bank by 17.3% in the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after acquiring an additional 5,756,584 shares during the period. TD Asset Management Inc raised its position in Toronto Dominion Bank by 0.9% in the second quarter. TD Asset Management Inc now owns 37,365,008 shares of the bank’s stock worth $2,742,748,000 after acquiring an additional 329,429 shares during the period. Mackenzie Financial Corp raised its position in Toronto Dominion Bank by 4.5% in the first quarter. Mackenzie Financial Corp now owns 29,252,736 shares of the bank’s stock worth $1,752,806,000 after acquiring an additional 1,262,062 shares during the period. Finally, Norges Bank bought a new stake in Toronto Dominion Bank in the fourth quarter worth about $992,204,000. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Company Profile

(Get Free Report

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

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Analyst Recommendations for Toronto Dominion Bank (NYSE:TD)

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