The Toronto-Dominion Bank (TD) Earns Buy Rating from Analysts at Dundee Securities
Analysts at Dundee Securities started coverage on shares of The Toronto-Dominion Bank (NYSE:TD) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.
Several other research analysts also recently issued reports on the company. Barclays PLC restated an “underweight” rating and set a $55.00 price objective (up from $51.00) on shares of The Toronto-Dominion Bank in a research report on Sunday, August 21st. BMO Capital Markets restated a “buy” rating on shares of The Toronto-Dominion Bank in a research report on Wednesday, July 6th. Bank of America Corp. restated a “buy” rating on shares of The Toronto-Dominion Bank in a research report on Tuesday, July 12th. Citigroup Inc. lifted their price objective on The Toronto-Dominion Bank from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Finally, CIBC downgraded The Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, August 26th. One investment 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 company currently has a consensus rating of “Buy” and an average target price of $56.88.
The Toronto-Dominion Bank (NYSE:TD) opened at 43.61 on Wednesday. The company has a market cap of $80.89 billion, a P/E ratio of 12.96 and a beta of 0.98. The Toronto-Dominion Bank has a 12-month low of $33.49 and a 12-month high of $45.98. The stock’s 50 day moving average is $44.10 and its 200-day moving average is $43.43.
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The Toronto-Dominion Bank (NYSE:TD) last posted its quarterly 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 quarter in the previous year, the business posted $1.20 earnings per share. The Toronto-Dominion Bank’s revenue was up 8.7% on a year-over-year basis. Analysts predict that The Toronto-Dominion Bank will post $3.68 earnings per share for the current fiscal year.
The firm also recently declared 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. This represents a $1.70 dividend on an annualized basis and a yield of 3.90%. This is a boost from The Toronto-Dominion Bank’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, October 5th. The Toronto-Dominion Bank’s dividend payout ratio is 50.45%.
A number of hedge funds have recently made changes to their positions in TD. First New York Securities LLC NY acquired a new stake in shares of The Toronto-Dominion Bank during the second quarter worth $107,000. Zions Bancorporation boosted its position in The Toronto-Dominion Bank by 282.5% in the first quarter. Zions Bancorporation now owns 2,639 shares of the company’s stock worth $115,000 after buying an additional 1,949 shares during the last quarter. Cribstone Capital Management LLC purchased a new position in The Toronto-Dominion Bank during the second quarter worth $118,000. Teachers Advisors Inc. boosted its position in The Toronto-Dominion Bank by 993.0% in the second quarter. Teachers Advisors Inc. now owns 2,820 shares of the company’s stock worth $121,000 after buying an additional 2,562 shares during the last quarter. Finally, AHL Partners LLP purchased a new position in The Toronto-Dominion Bank during the second quarter worth $201,000. 51.77% of the stock is owned by hedge funds and other institutional investors.
About The Toronto-Dominion Bank
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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