Toronto-Dominion Bank (TD) Receives Consensus Recommendation of “Buy” from Brokerages
Toronto-Dominion Bank (TSE:TD) (NYSE:TD) has earned an average recommendation of “Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$85.15.
Several equities analysts have weighed in on the company. National Bank Financial lifted their target price on Toronto-Dominion Bank from C$84.00 to C$86.00 and gave the company an “outperform” rating in a research note on Friday, August 31st. Citigroup lifted their target price on Toronto-Dominion Bank from C$85.00 to C$88.00 in a research note on Tuesday, June 5th. Eight Capital lifted their target price on Toronto-Dominion Bank from C$89.00 to C$93.00 in a research note on Friday, August 31st. BMO Capital Markets lifted their target price on Toronto-Dominion Bank from C$82.00 to C$83.00 in a research note on Friday, August 31st. Finally, CIBC lowered their price target on Toronto-Dominion Bank from C$85.00 to C$84.00 in a research note on Monday, June 11th.
In related news, insider Michael George Rhodes sold 25,824 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of C$78.98, for a total value of C$2,039,579.52.
Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its earnings results on Thursday, August 30th. The company reported C$1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.61 by C$0.05. Toronto-Dominion Bank had a return on equity of 13.38% and a net margin of 23.57%. The company had revenue of C$9.89 billion for the quarter, compared to analysts’ expectations of C$9.39 billion.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.38%.
Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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