Toronto Dominion Bank (The) (NYSE:TD) Receives $93.00 Consensus PT from Brokerages

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $93.00.

Several equities analysts have commented on TD shares. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Finally, Natl Bk Canada raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th.

Hedge Funds Weigh In On Toronto Dominion Bank

Several large investors have recently modified their holdings of the stock. Canerector Inc. grew its position in Toronto Dominion Bank by 11,028.0% during the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock valued at $1,779,367,000 after purchasing an additional 22,056,000 shares during the last quarter. Norges Bank purchased a new stake in shares of Toronto Dominion Bank during the second quarter valued at approximately $1,543,639,000. Goldman Sachs Group Inc. grew its holdings in shares of Toronto Dominion Bank by 93.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank’s stock valued at $732,252,000 after buying an additional 5,917,078 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its position in shares of Toronto Dominion Bank by 48.9% during the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank’s stock valued at $886,174,000 after acquiring an additional 4,853,498 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Toronto Dominion Bank by 81.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank’s stock worth $630,746,000 after acquiring an additional 4,729,657 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock opened at $94.09 on Friday. Toronto Dominion Bank has a fifty-two week low of $52.56 and a fifty-two week high of $94.21. The stock’s 50 day simple moving average is $84.30 and its two-hundred day simple moving average is $78.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $158.97 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.30 and a beta of 0.69.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $10.10 billion. During the same quarter in the prior year, the company earned $1.72 EPS. The business’s revenue was down .1% compared to the same quarter last year. As a group, analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Friday, January 9th will be paid a $1.08 dividend. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 9th. Toronto Dominion Bank’s payout ratio is currently 35.82%.

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.