Toronto Dominion Bank (The) (NYSE:TD) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $156.00.

TD has been the topic of a number of recent research reports. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada raised their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, June 11th. Finally, Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th.

Toronto Dominion Bank Price Performance

Shares of TD stock opened at $119.38 on Friday. Toronto Dominion Bank has a 52-week low of $70.50 and a 52-week high of $120.27. The stock has a market cap of $197.27 billion, a PE ratio of 18.62, a PEG ratio of 1.32 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average price is $109.64 and its two-hundred day moving average price is $99.55.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same period last year, the firm earned $1.97 earnings per share. The business’s revenue for the quarter was down 31.1% on a year-over-year basis. As a group, analysts forecast that Toronto Dominion Bank will post 6.92 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Friday, July 10th. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. Toronto Dominion Bank’s payout ratio is 48.52%.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Toronto Dominion Bank by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock worth $7,280,911,000 after purchasing an additional 765,107 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Toronto Dominion Bank by 0.7% during the third quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock worth $3,008,096,000 after purchasing an additional 246,999 shares in the last quarter. Norges Bank bought a new position in shares of Toronto Dominion Bank during the fourth quarter worth $2,125,963,000. Canerector Inc. boosted its position in shares of Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after purchasing an additional 22,056,000 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Toronto Dominion Bank by 6.8% during the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock worth $1,836,518,000 after purchasing an additional 1,234,510 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

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.