Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have earned a consensus recommendation of “Buy” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $66.50.

A number of research firms have weighed in on TD. Zacks Investment Research raised Toronto Dominion Bank (The) from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Wednesday, August 9th. BidaskClub downgraded Toronto Dominion Bank (The) from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Canaccord Genuity reissued a “buy” rating and issued a $72.00 target price on shares of Toronto Dominion Bank (The) in a report on Thursday, August 31st. Bank of America Corporation reissued a “buy” rating on shares of Toronto Dominion Bank (The) in a report on Friday, September 1st. Finally, Scotiabank raised Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a report on Monday, August 21st.

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. increased its position in Toronto Dominion Bank (The) by 25.5% in the first quarter. Meeder Asset Management Inc. now owns 2,187 shares of the bank’s stock worth $110,000 after buying an additional 444 shares in the last quarter. Parallel Advisors LLC increased its position in Toronto Dominion Bank (The) by 10.0% in the second quarter. Parallel Advisors LLC now owns 2,151 shares of the bank’s stock worth $111,000 after buying an additional 196 shares in the last quarter. Cornerstone Advisors Inc. increased its position in Toronto Dominion Bank (The) by 5.2% in the second quarter. Cornerstone Advisors Inc. now owns 2,319 shares of the bank’s stock worth $117,000 after buying an additional 114 shares in the last quarter. Cribstone Capital Management LLC increased its position in Toronto Dominion Bank (The) by 47.3% in the second quarter. Cribstone Capital Management LLC now owns 2,341 shares of the bank’s stock worth $118,000 after buying an additional 752 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in Toronto Dominion Bank (The) by 26.1% in the second quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock worth $119,000 after buying an additional 487 shares in the last quarter. Institutional investors and hedge funds own 47.85% of the company’s stock.

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Shares of Toronto Dominion Bank (TD) traded down 0.35% during midday trading on Friday, reaching $54.47. The company had a trading volume of 1,407,959 shares. The company’s 50-day moving average is $51.69 and its 200-day moving average is $49.87. The stock has a market capitalization of $100.41 billion, a PE ratio of 13.65 and a beta of 0.88. Toronto Dominion Bank has a 1-year low of $43.09 and a 1-year high of $54.90.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Toronto Dominion Bank (The) had a return on equity of 14.71% and a net margin of 22.85%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.05 billion. During the same quarter in the prior year, the company earned $1.27 earnings per share. Toronto Dominion Bank (The)’s revenue was up 6.7% on a year-over-year basis. On average, equities research analysts forecast that Toronto Dominion Bank will post $4.57 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be given a $0.475 dividend. This is a boost from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.90 dividend on an annualized basis and a yield of 3.49%. Toronto Dominion Bank (The)’s dividend payout ratio is presently 46.37%.

Toronto Dominion Bank (The) announced that its Board of Directors has approved a share repurchase program on Thursday, August 31st that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Toronto Dominion Bank (The) Company Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

Analyst Recommendations for Toronto Dominion Bank (The) (NYSE:TD)

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