The Toronto-Dominion Bank (TD) Receives New Coverage from Analysts at Dundee Securities
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of The Toronto-Dominion Bank from a hold rating to a buy rating and set a $50.00 target price for the company in a report on Saturday, May 28th. Bank of America Corp. reaffirmed a buy rating on shares of The Toronto-Dominion Bank in a report on Tuesday, July 12th. Barclays PLC reaffirmed an underweight rating and issued a $55.00 target price (up from $51.00) on shares of The Toronto-Dominion Bank in a report on Sunday, August 21st. Canaccord Genuity reaffirmed a buy rating and issued a $23.00 target price on shares of The Toronto-Dominion Bank in a report on Wednesday, June 8th. Finally, Royal Bank Of Canada reaffirmed an outperform rating and issued a $61.00 target price on shares of The Toronto-Dominion Bank in a report on Friday, May 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $56.88.
The Toronto-Dominion Bank (NYSE:TD) traded up 1.18% during mid-day trading on Wednesday, hitting $44.67. 213,820 shares of the stock traded hands. The Toronto-Dominion Bank has a 12 month low of $33.49 and a 12 month high of $45.98. The company has a market cap of $82.85 billion, a price-to-earnings ratio of 13.27 and a beta of 0.98. The stock’s 50 day moving average is $44.14 and its 200-day moving average is $43.44.
The Toronto-Dominion Bank (NYSE:TD) last issued its earnings results on Thursday, August 25th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.06. The Toronto-Dominion Bank had a net margin of 21.02% and a return on equity of 13.56%. The company earned $8.70 billion during the quarter. During the same period last year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that The Toronto-Dominion Bank will post $3.68 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 7th will be given a dividend of $0.4249 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.70 dividend on an annualized basis and a yield of 3.85%. This is a positive change from The Toronto-Dominion Bank’s previous quarterly dividend of $0.42. The Toronto-Dominion Bank’s dividend payout ratio (DPR) is 50.45%.
A number of hedge funds have recently made changes to their positions in TD. Fisher Asset Management LLC raised its position in shares of The Toronto-Dominion Bank by 3.2% in the first quarter. Fisher Asset Management LLC now owns 39,060 shares of the company’s stock worth $1,689,000 after buying an additional 1,217 shares during the period. Glenmede Trust Co. NA raised its position in shares of The Toronto-Dominion Bank by 7.3% in the first quarter. Glenmede Trust Co. NA now owns 14,356 shares of the company’s stock worth $618,000 after buying an additional 971 shares during the period. Mn Services Vermogensbeheer B.V. bought a new position in shares of The Toronto-Dominion Bank during the first quarter worth $1,768,000. Virginia Retirement System bought a new position in shares of The Toronto-Dominion Bank during the first quarter worth $16,847,000. Finally, Addenda Capital Inc. raised its position in shares of The Toronto-Dominion Bank by 0.3% in the first quarter. Addenda Capital Inc. now owns 2,116,705 shares of the company’s stock worth $91,739,000 after buying an additional 6,155 shares during the period. Hedge funds and other institutional investors own 51.77% of the company’s stock.
The Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank conducts its business through segments, such as Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses, including credit cards, auto finance, wealth and insurance businesses.
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