Brokerages Set Toronto Dominion Bank (The) (NYSE:TD) Price Target at $93.00

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $93.00.

TD has been the subject of a number of research reports. Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, January 21st. Jefferies Financial Group cut Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Zacks Research raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Monday, March 2nd.

Institutional Investors Weigh In On Toronto Dominion Bank

Hedge funds have recently added to or reduced their stakes in the business. Bayban purchased a new position in Toronto Dominion Bank in the 4th quarter valued at approximately $28,000. Pure Financial Advisors LLC purchased a new stake in shares of Toronto Dominion Bank during the fourth quarter worth $409,000. Rehmann Capital Advisory Group acquired a new stake in shares of Toronto Dominion Bank in the fourth quarter valued at $466,000. SHP Wealth Management acquired a new stake in shares of Toronto Dominion Bank in the fourth quarter valued at $623,000. Finally, Reflection Asset Management purchased a new position in Toronto Dominion Bank in the fourth quarter valued at $91,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Stock Performance

NYSE:TD opened at $95.64 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $159.84 billion, a P/E ratio of 10.57, a PEG ratio of 1.09 and a beta of 0.66. The company has a 50 day moving average price of $95.43 and a 200 day moving average price of $86.54. Toronto Dominion Bank has a fifty-two week low of $54.87 and a fifty-two week high of $99.84.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The company had revenue of $11.01 billion for the quarter, compared to analyst estimates of $10.43 billion. During the same quarter in the previous year, the company earned $2.02 earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities research analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 9th will be issued a $1.08 dividend. The ex-dividend date is Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.5%. Toronto Dominion Bank’s payout ratio is 34.92%.

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.