Toronto Dominion Bank (The) (NYSE:TD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $93.00.

A number of equities research analysts have issued reports on TD shares. National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Monday, March 2nd. Zacks Research upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday.

Toronto Dominion Bank Price Performance

NYSE TD opened at $91.58 on Tuesday. The company has a 50 day simple moving average of $95.31 and a 200-day simple moving average of $88.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $153.06 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.04 and a beta of 0.66. Toronto Dominion Bank has a 52-week low of $54.87 and a 52-week high of $99.84.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The firm had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.43 billion. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 earnings per share. Equities research analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Thursday, April 9th. Toronto Dominion Bank’s payout ratio is currently 34.81%.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of hedge funds have recently added to or reduced their stakes in TD. AQR Capital Management LLC bought a new position in Toronto Dominion Bank during the first quarter valued at approximately $568,000. Focus Partners Wealth grew its position in Toronto Dominion Bank by 27.7% in the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank’s stock worth $1,497,000 after acquiring an additional 5,410 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Toronto Dominion Bank during the 2nd quarter worth $259,000. Prudential Financial Inc. bought a new position in shares of Toronto Dominion Bank during the 2nd quarter valued at $946,000. Finally, Global Retirement Partners LLC bought a new position in shares of Toronto Dominion Bank during the 2nd quarter valued at $344,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.