The Toronto-Dominion Bank (TSE:TD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) have been given an average rating of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$151.42.

TD has been the topic of a number of recent research reports. Jefferies Financial Group lifted their target price on Toronto-Dominion Bank from C$134.00 to C$142.00 in a report on Wednesday, May 20th. Raymond James Financial upped their target price on Toronto-Dominion Bank from C$152.50 to C$155.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Desjardins upped their target price on Toronto-Dominion Bank from C$154.00 to C$160.00 and gave the company a “buy” rating in a report on Friday, May 29th. Canaccord Genuity Group increased their price target on Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Barclays lifted their price target on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the stock an “underweight” rating in a research note on Friday, May 29th.

Insider Activity

In other news, insider Paul Martyn Clark sold 27,649 shares of Toronto-Dominion Bank stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the transaction, the insider directly owned 260 shares of the company’s stock, valued at C$41,917.20. This trade represents a 99.07% decrease in their ownership of the stock. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of C$156.61, for a total transaction of C$1,330,871.78. Following the sale, the insider owned 26,677 shares in the company, valued at C$4,177,884.97. This represents a 24.16% decrease in their position. Company insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Stock Performance

Shares of TSE:TD opened at C$167.87 on Friday. The stock has a market capitalization of C$277.33 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.22 and a beta of 0.89. Toronto-Dominion Bank has a 1-year low of C$99.51 and a 1-year high of C$175.33. The company has a 50 day moving average price of C$164.15 and a 200 day moving average price of C$144.78.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$2.38 earnings per share (EPS) for the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%.The company had revenue of C$16.04 billion for the quarter. On average, sell-side analysts expect that Toronto-Dominion Bank will post 7.2160149 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 31st will be issued a $1.12 dividend. 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 2.7%. Toronto-Dominion Bank’s dividend payout ratio is 50.00%.

Toronto-Dominion Bank Company Profile

TD Asset Management Inc (‘TDAM’), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.