The Toronto-Dominion Bank (TSE:TD) Stock Rated “Moderate Buy” by Wall Street Brokerages

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$171.08.

A number of research analysts recently weighed in on the stock. Barclays lifted their target price on shares of Toronto-Dominion Bank from C$164.00 to C$167.00 and gave the company an “underweight” rating in a research note on Friday, August 28th. Desjardins set a C$183.00 target price on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Raymond James Financial increased their price target on Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Canadian Imperial Bank of Commerce increased their price target on Toronto-Dominion Bank from C$184.00 to C$188.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Finally, Keefe, Bruyette & Woods raised their price target on Toronto-Dominion Bank from C$180.00 to C$187.00 in a report on Monday, August 31st.

Insider Activity

In related news, insider Kelvin Vi Luan Tran sold 8,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of C$172.92, for a total transaction of C$1,383,360.00. Following the completion of the sale, the insider owned 23,877 shares in the company, valued at approximately C$4,128,810.84. This trade represents a 25.10% decrease in their ownership of the stock. Corporate insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of TSE:TD opened at C$172.55 on Friday. Toronto-Dominion Bank has a 1-year low of C$112.26 and a 1-year high of C$179.80. The company has a market capitalization of C$281.78 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.22 and a beta of 0.79. The firm’s 50 day simple moving average is C$169.96 and its two-hundred day simple moving average is C$154.44.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share for the quarter. The business had revenue of C$16.93 billion during the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. On average, sell-side analysts anticipate that Toronto-Dominion Bank will post 7.22 earnings per share for the current fiscal year.

Toronto-Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Saturday, October 31st were paid a $1.12 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.6%. Toronto-Dominion Bank’s dividend payout ratio is 46.36%.

About Toronto-Dominion Bank

TD Asset Management Inc (‘TDAM’), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.