Brokerages Set The Toronto-Dominion Bank (NYSE:TD) Target Price at $88.00

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has earned an average rating of “Hold” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $88.00.

A number of research analysts recently weighed in on TD shares. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. BMO Capital Markets reduced their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research note on Friday, May 24th. Barclays started coverage on shares of Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an “equal weight” rating for the company. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, April 17th. Finally, National Bank Financial lowered shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday, May 23rd.

Toronto-Dominion Bank Trading Down 1.0 %

NYSE:TD opened at $54.70 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $95.57 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.83. The firm’s 50 day moving average is $56.24 and its 200 day moving average is $59.07. Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. The company had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. Sell-side analysts expect that Toronto-Dominion Bank will post 5.86 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.96 annualized dividend and a yield of 5.41%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 68.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new stake in Toronto-Dominion Bank in the first quarter worth $29,000. LifeSteps Financial Inc. bought a new stake in Toronto-Dominion Bank in the first quarter worth $30,000. Bank of New Hampshire bought a new stake in Toronto-Dominion Bank in the fourth quarter worth $32,000. Avior Wealth Management LLC lifted its stake in Toronto-Dominion Bank by 92.9% in the fourth quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock worth $38,000 after purchasing an additional 286 shares during the last quarter. Finally, Optiver Holding B.V. bought a new stake in Toronto-Dominion Bank in the fourth quarter worth $39,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.