The Toronto-Dominion Bank (NYSE:TD) Receives $88.00 Average Target Price from Brokerages

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has been assigned a consensus rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $88.00.

Several brokerages recently issued reports on TD. BMO Capital Markets cut their price target on 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. Cibc World Mkts upgraded Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. UBS Group initiated coverage on Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. StockNews.com raised shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Monday. Finally, National Bank Financial lowered shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd.

Institutional Trading of Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. acquired a new stake in shares of Toronto-Dominion Bank during the 1st quarter valued at $29,000. LifeSteps Financial Inc. acquired a new stake in shares of Toronto-Dominion Bank during the first quarter valued at about $30,000. Triad Wealth Partners LLC bought a new stake in shares of Toronto-Dominion Bank during the second quarter worth about $31,000. Bank of New Hampshire acquired a new position in shares of Toronto-Dominion Bank in the fourth quarter valued at approximately $32,000. Finally, Avior Wealth Management LLC raised its holdings in Toronto-Dominion Bank by 92.9% in the 4th quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock valued at $38,000 after buying an additional 286 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Down 0.6 %

TD opened at $58.09 on Friday. The stock has a fifty day moving average of $55.72 and a 200-day moving average of $58.31. The company has a market capitalization of $101.50 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.60 and a beta of 0.82. Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $66.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01.

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

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is 67.73%.

About Toronto-Dominion Bank

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.