Toronto Dominion Bank (The) (NYSE:TD) Receives Average 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 brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $156.00.

TD has been the subject of a number of research reports. Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Finally, Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th.

Toronto Dominion Bank Price Performance

Toronto Dominion Bank stock opened at $118.50 on Thursday. The stock has a market capitalization of $195.81 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.35 and a beta of 0.71. Toronto Dominion Bank has a 52-week low of $72.21 and a 52-week high of $122.65. The stock’s 50 day moving average price is $113.83 and its two-hundred day moving average price is $102.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company’s quarterly revenue was down 31.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.97 EPS. On average, equities analysts predict that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 3.8%. Toronto Dominion Bank’s payout ratio is currently 48.52%.

Institutional Trading of Toronto Dominion Bank

Several hedge funds have recently bought and sold shares of TD. Vanguard Group Inc. raised its holdings in Toronto Dominion Bank by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock worth $7,280,911,000 after buying an additional 765,107 shares during the last quarter. Norges Bank acquired a new position in shares of Toronto Dominion Bank during the fourth quarter valued at about $2,125,963,000. Bank of Nova Scotia increased its position in shares of Toronto Dominion Bank by 6.8% during the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock worth $1,836,518,000 after acquiring an additional 1,234,510 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Toronto Dominion Bank by 10.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock worth $1,606,978,000 after acquiring an additional 1,629,062 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Toronto Dominion Bank by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank’s stock worth $1,610,733,000 after acquiring an additional 968,122 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto Dominion Bank

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.