Analysts Set Toronto Dominion Bank (The) (NYSE:TD) Target Price at $93.00

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company.

Several analysts have recently weighed in on TD shares. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a report on Friday, March 27th. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th.

Toronto Dominion Bank Trading Up 0.6%

NYSE TD opened at $112.53 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $186.37 billion, a PE ratio of 12.43, a P/E/G ratio of 1.25 and a beta of 0.71. Toronto Dominion Bank has a one year low of $67.75 and a one year high of $113.51. The firm’s fifty day moving average is $102.17 and its two-hundred day moving average is $95.48.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. The business had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.43 billion. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 earnings per share. Analysts expect that Toronto Dominion Bank will post 6.89 earnings per share for the current year.

Toronto Dominion Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 9th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, April 9th. Toronto Dominion Bank’s payout ratio is currently 34.36%.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of large investors have recently bought and sold shares of TD. Norges Bank acquired a new stake in Toronto Dominion Bank during the 4th quarter valued at $2,125,963,000. Canerector Inc. raised its stake in Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after acquiring an additional 22,056,000 shares during the period. Auto Owners Insurance Co raised its stake in Toronto Dominion Bank by 9,320.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock worth $396,544,000 after acquiring an additional 3,923,347 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Toronto Dominion Bank by 41.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock worth $1,121,660,000 after acquiring an additional 3,496,645 shares during the period. Finally, Alberta Investment Management Corp acquired a new stake in Toronto Dominion Bank during the fourth quarter worth about $299,850,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Company Profile

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.