Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have earned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $66.33.

TD has been the topic of several research analyst reports. Zacks Investment Research upgraded Toronto Dominion Bank (The) from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Wednesday, August 9th. BidaskClub cut Toronto Dominion Bank (The) from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Scotiabank raised Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 21st. Howard Weil raised Toronto Dominion Bank (The) to an “outperform” rating in a research note on Monday, August 21st. Finally, Canaccord Genuity reissued a “buy” rating and set a $72.00 target price on shares of Toronto Dominion Bank (The) in a research note on Thursday, August 31st.

Toronto Dominion Bank (NYSE TD) traded down 0.23% during mid-day trading on Wednesday, reaching $57.28. 1,469,747 shares of the company’s stock traded hands. Toronto Dominion Bank has a 12-month low of $43.31 and a 12-month high of $57.59. The stock has a 50 day moving average of $53.96 and a 200 day moving average of $50.37. The company has a market cap of $105.89 billion, a P/E ratio of 13.19 and a beta of 0.89.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.06. Toronto Dominion Bank (The) had a net margin of 22.85% and a return on equity of 14.71%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.05 billion. During the same period in the prior year, the firm posted $1.27 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts predict that Toronto Dominion Bank will post $4.50 earnings per share for the current fiscal year.

Toronto Dominion Bank (The) announced that its Board of Directors has initiated a stock buyback program on Thursday, August 31st that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be given a dividend of $0.475 per share. This is a positive change 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 dividend yield of 3.32%. Toronto Dominion Bank (The)’s dividend payout ratio (DPR) is presently 46.37%.

Large investors have recently bought and sold shares of the stock. 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 purchasing an additional 444 shares during the last quarter. Parallel Advisors LLC raised its stake in Toronto Dominion Bank (The) by 10.0% during the second quarter. Parallel Advisors LLC now owns 2,151 shares of the bank’s stock valued at $111,000 after purchasing an additional 196 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in Toronto Dominion Bank (The) by 5.2% during the second quarter. Cornerstone Advisors Inc. now owns 2,319 shares of the bank’s stock valued at $117,000 after purchasing an additional 114 shares in the last quarter. Cribstone Capital Management LLC raised its stake in Toronto Dominion Bank (The) by 47.3% during the second quarter. Cribstone Capital Management LLC now owns 2,341 shares of the bank’s stock valued at $118,000 after purchasing an additional 752 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Toronto Dominion Bank (The) by 26.1% during the second quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock valued at $119,000 after purchasing an additional 487 shares in the last quarter. Institutional investors own 47.70% of the company’s stock.

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About Toronto Dominion Bank (The)

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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