Shares of Toronto Dominion Bank (The) (NYSE:TD – Get Free Report) (TSE:TD) have been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $156.00.
Several brokerages have weighed in on TD. Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada lifted their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a report on Monday, June 1st.
Check Out Our Latest Stock Report on TD
Toronto Dominion Bank Stock Up 1.4%
Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last posted its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the firm earned $1.97 EPS. The firm’s quarterly revenue was down 31.1% compared to the same quarter last year. As a group, equities research analysts expect that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.
Toronto Dominion Bank Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Friday, July 10th. Toronto Dominion Bank’s payout ratio is currently 49.14%.
Institutional Trading of Toronto Dominion Bank
Hedge funds and other institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. grew its position in shares of Toronto Dominion Bank by 3.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank’s stock valued at $112,185,000 after purchasing an additional 34,921 shares during the period. Prime Capital Investment Advisors LLC raised its holdings in Toronto Dominion Bank by 433.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank’s stock worth $1,528,000 after buying an additional 13,179 shares during the period. Alberta Investment Management Corp acquired a new stake in Toronto Dominion Bank during the 4th quarter worth approximately $299,850,000. State of Wyoming lifted its stake in Toronto Dominion Bank by 1,018.7% in the first quarter. State of Wyoming now owns 22,765 shares of the bank’s stock valued at $2,119,000 after buying an additional 20,730 shares in the last quarter. Finally, JCIC Asset Management Inc. increased its position in shares of Toronto Dominion Bank by 891.5% during the fourth quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank’s stock worth $8,035,000 after acquiring an additional 76,650 shares in 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.
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