Toronto Dominion Bank (The) (NYSE:TD) Receives $156.00 Consensus Price Target from Brokerages

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) has earned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $156.00.

TD has been the subject of a number of research reports. Royal Bank Of Canada raised their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Finally, Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th.

Toronto Dominion Bank Trading Up 0.7%

Shares of NYSE:TD opened at $119.38 on Friday. The stock has a market capitalization of $197.27 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.31 and a beta of 0.72. Toronto Dominion Bank has a 1-year low of $70.50 and a 1-year high of $120.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day moving average price of $109.23 and a 200 day moving average price of $99.41.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm’s revenue for the quarter was down 31.1% compared to the same quarter last year. During the same period last year, the firm posted $1.97 earnings per share. On average, research analysts anticipate that Toronto Dominion Bank will post 6.92 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given 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 annualized dividend and a dividend yield of 3.8%. Toronto Dominion Bank’s payout ratio is currently 48.52%.

Institutional Investors Weigh In On Toronto Dominion Bank

Hedge funds have recently made changes to their positions in the company. Bayban purchased a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd lifted 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 valued at $30,000 after acquiring an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at approximately $34,000. Brown Lisle Cummings Inc. lifted its position 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 in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Toronto Dominion Bank by 660.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after acquiring an additional 456 shares in the last quarter. 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.