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

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

Several brokerages recently commented on TD. Weiss Ratings cut Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, May 29th. Royal Bank Of Canada boosted their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Finally, Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th.

Toronto Dominion Bank Stock Up 0.9%

Toronto Dominion Bank stock opened at $117.32 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Toronto Dominion Bank has a 12 month low of $70.09 and a 12 month high of $117.95. The stock has a market capitalization of $193.87 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.30 and a beta of 0.72. The business has a 50 day simple moving average of $107.43 and a 200-day simple moving average of $98.32.

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

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $1.12 per share. The ex-dividend date is Friday, July 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 48.52%.

Institutional Trading of Toronto Dominion Bank

Several large investors have recently made changes to their positions in the company. Bayban purchased a new stake in Toronto Dominion Bank in the 4th quarter valued at $28,000. Harvest Fund Management Co. Ltd grew its holdings in Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after buying an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC purchased a new stake in Toronto Dominion Bank in the 4th quarter valued at $34,000. Brown Lisle Cummings Inc. grew its holdings in Toronto Dominion Bank by 88.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock valued at $38,000 after buying an additional 191 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in Toronto Dominion Bank by 177.9% in the 4th quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock valued at $40,000 after buying an additional 274 shares in the last quarter. 52.37% of the stock is currently owned by hedge funds and other 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.