Toronto Dominion Bank (The) (NYSE:TD) Given Average Rating of “Moderate Buy” by Brokerages

Toronto Dominion Bank (The) (NYSE:TD – Get Free Report) (TSE:TD) has earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $156.00.

Several equities research analysts have issued reports on TD shares. Royal Bank Of Canada lifted their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. 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. Finally, Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd.

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Hedge Funds Weigh In On Toronto Dominion Bank

A number of hedge funds have recently bought and sold shares of TD. Bayban acquired a new stake in Toronto Dominion Bank during the fourth quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd grew its position in shares of Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after acquiring an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC acquired a new position in shares of Toronto Dominion Bank in the 4th quarter worth approximately $34,000. Brown Lisle Cummings Inc. increased its holdings in shares of 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 acquiring an additional 191 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in shares of 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 acquiring an additional 274 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Stock Up 1.6%

Shares of Toronto Dominion Bank stock opened at $124.83 on Thursday. The business has a 50-day moving average of $115.36 and a 200-day moving average of $103.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $206.28 billion, a PE ratio of 19.47, a P/E/G ratio of 1.37 and a beta of 0.71. Toronto Dominion Bank has a 1-year low of $72.21 and a 1-year high of $124.87.

Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last announced its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company’s revenue for the quarter was down 31.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.97 earnings per share. As a group, equities analysts forecast that Toronto Dominion Bank will post 6.86 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a $1.12 dividend. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 49.14%.

Toronto Dominion Bank Company Profile

(Get Free Report)

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.

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