The Toronto-Dominion Bank (TSE:TD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$164.15.

TD has been the topic of several analyst reports. Desjardins boosted their price target on shares of Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Canadian Imperial Bank of Commerce lifted their target price on shares of Toronto-Dominion Bank from C$164.00 to C$184.00 and gave the company a “neutral” rating in a research report on Wednesday. Jefferies Financial Group upped their target price on shares of Toronto-Dominion Bank from C$151.00 to C$159.00 in a research note on Thursday, August 13th. Keefe, Bruyette & Woods set a C$180.00 target price on shares of Toronto-Dominion Bank and gave the company a “market perform” rating in a research note on Friday. Finally, Canaccord Genuity Group increased their price target on shares of Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th.

Toronto-Dominion Bank Trading Down 0.1%

TD opened at C$161.24 on Tuesday. The stock has a market cap of C$266.38 billion, a PE ratio of 18.92, a P/E/G ratio of 1.22 and a beta of 0.88. Toronto-Dominion Bank has a 1 year low of C$100.01 and a 1 year high of C$175.33. The stock’s 50 day simple moving average is C$169.43 and its 200-day simple moving average is C$150.31.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its earnings results on Thursday, May 28th. The company reported C$2.38 EPS for the quarter. The business had revenue of C$16.04 billion during the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%. Equities analysts forecast that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal 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 31st were paid a $1.12 dividend. The ex-dividend date was Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 2.8%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. Toronto-Dominion Bank’s dividend payout ratio is currently 50.00%.

Insider Activity at Toronto-Dominion Bank

In other news, insider Paul Martyn Clark sold 27,649 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the completion of the transaction, the insider directly owned 260 shares of the company’s stock, valued at approximately C$41,917.20. This represents a 99.07% decrease in their position. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the completion of the transaction, the insider directly owned 26,677 shares of the company’s stock, valued at approximately C$4,177,884.97. The trade was a 24.16% decrease in their ownership of the stock. Corporate insiders own 0.08% of the company’s stock.

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.