Toronto Dominion Bank (NYSE:TD) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods assumed coverage on shares of Toronto Dominion Bank (NYSE:TD) (TSE:TD) in a research report report published on Friday morning. The firm issued a market perform rating on the bank’s stock.

A number of other analysts have also recently commented on TD. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada boosted their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Finally, Weiss Ratings raised Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Trading Down 0.0%

Shares of NYSE:TD opened at $117.13 on Friday. The business’s 50 day moving average price is $120.49 and its 200-day moving average price is $108.49. Toronto Dominion Bank has a 1 year low of $72.73 and a 1 year high of $125.46. The firm has a market capitalization of $192.66 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.18 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The company had revenue of $11.80 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.97 earnings per share. On average, equities research analysts forecast that Toronto Dominion Bank will post 6.99 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. Shareholders of record on Friday, July 10th were paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio is presently 49.14%.

Institutional Trading of Toronto Dominion Bank

A number of hedge funds and other institutional investors have recently modified their holdings of TD. Bayban purchased a new stake in shares of Toronto Dominion Bank in the fourth quarter valued at about $28,000. Harvest Fund Management Co. Ltd raised its stake in Toronto Dominion Bank by 112.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after purchasing an additional 168 shares during the period. Continuum Advisory LLC purchased a new position in Toronto Dominion Bank during the second quarter worth about $43,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at approximately $34,000. Finally, Brown Lisle Cummings Inc. increased its holdings in shares of Toronto Dominion Bank by 88.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after buying an additional 191 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto Dominion Bank Company Profile

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.