Brokerages Set Toronto Dominion Bank (The) (NYSE:TD) Price Target at $156.00

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $156.00.

Several equities research analysts have recently weighed in on the company. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Keefe, Bruyette & Woods began coverage on shares of Toronto Dominion Bank in a report on Friday, August 21st. They issued a “market perform” rating for the company. Royal Bank Of Canada raised their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Finally, Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th.

Institutional Investors Weigh In On Toronto Dominion Bank

Several large investors have recently modified their holdings of TD. Norges Bank bought a new position in shares of Toronto Dominion Bank in the fourth quarter valued at approximately $2,125,963,000. Auto Owners Insurance Co boosted its holdings in shares of Toronto Dominion Bank by 9,320.0% in the 4th quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock worth $396,544,000 after acquiring an additional 3,923,347 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Toronto Dominion Bank by 41.6% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock worth $1,121,660,000 after acquiring an additional 3,496,645 shares during the last quarter. Alberta Investment Management Corp bought a new stake in shares of Toronto Dominion Bank during the fourth quarter worth $299,850,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Toronto Dominion Bank in the second quarter valued at $202,900,000. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Trading Down 1.1%

Shares of NYSE:TD opened at $119.59 on Friday. 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’s 50-day moving average is $120.61 and its 200-day moving average is $109.63. The company has a market cap of $196.70 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.20 and a beta of 0.73. Toronto Dominion Bank has a 52-week low of $73.80 and a 52-week high of $125.46.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.24. The business had revenue of $12.07 billion during the quarter, compared to analysts’ expectations of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%.The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. Equities research analysts predict that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, October 9th. Toronto Dominion Bank’s payout ratio is 46.81%.

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.