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

Shares of The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$164.15.

TD has been the topic of several recent analyst reports. National Bank Financial set a C$190.00 price objective on shares of Toronto-Dominion Bank and gave the stock an “outperform” rating in a research note on Monday. Scotiabank raised their target price on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a research note on Tuesday, June 16th. Canaccord Genuity Group raised their target price on shares of Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Jefferies Financial Group lifted their price target on Toronto-Dominion Bank from C$151.00 to C$159.00 in a report on Thursday, August 13th. Finally, Desjardins boosted their price target on Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Toronto-Dominion Bank Trading Up 0.1%

TSE:TD opened at C$161.42 on Tuesday. Toronto-Dominion Bank has a 1-year low of C$100.01 and a 1-year high of C$175.33. The firm has a fifty day simple moving average of C$169.37 and a 200 day simple moving average of C$150.68. The stock has a market capitalization of C$266.67 billion, a PE ratio of 18.95, a P/E/G ratio of 1.22 and a beta of 0.88.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its earnings results on Thursday, May 28th. The company reported C$2.38 earnings per share for the quarter. Toronto-Dominion Bank had a net margin of 13.21% and a return on equity of 11.85%. The business had revenue of C$16.04 billion for the quarter. On average, equities analysts predict that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 31st were paid a dividend of $1.12 per share. 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 presently 50.00%.

Insider Buying and Selling

In related news, insider Kelvin Vi Luan Tran sold 8,498 shares of the business’s 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 transaction of C$1,330,871.78. Following 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 position. Also, insider Paul Martyn Clark sold 27,649 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the completion of the sale, the insider owned 260 shares in the company, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their position. 0.08% of the stock is currently owned by insiders.

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.