Toronto Dominion Bank (The) (NYSE:TD) Receives Average Recommendation of “Moderate Buy” from Analysts

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $156.00.

Several equities analysts have issued reports on TD shares. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada boosted their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday.

Institutional Trading of Toronto Dominion Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TD. Hillsdale Investment Management Inc. raised its position in Toronto Dominion Bank by 3.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank’s stock valued at $112,185,000 after buying an additional 34,921 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Toronto Dominion Bank by 433.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank’s stock worth $1,528,000 after acquiring an additional 13,179 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of Toronto Dominion Bank in the 4th quarter worth $299,850,000. State of Wyoming raised its holdings in shares of Toronto Dominion Bank by 1,018.7% in the first quarter. State of Wyoming now owns 22,765 shares of the bank’s stock valued at $2,119,000 after purchasing an additional 20,730 shares during the last quarter. Finally, JCIC Asset Management Inc. lifted its position in shares of Toronto Dominion Bank by 891.5% during the fourth quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank’s stock valued at $8,035,000 after purchasing an additional 76,650 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Stock Performance

TD stock opened at $121.39 on Monday. The firm has a market cap of $199.67 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $119.05 and a 200-day moving average price of $106.51. Toronto Dominion Bank has a 1-year low of $72.72 and a 1-year high of $124.87.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the company earned $1.97 EPS. The firm’s revenue for the quarter was down 31.1% compared to the same quarter last year. As a group, equities research analysts expect that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were given a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. Toronto Dominion Bank’s payout ratio is currently 49.14%.

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.