Toronto Dominion Bank (The) (NYSE:TD) Receives Consensus Rating of “Moderate Buy” from Analysts

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $156.00.

A number of brokerages have recently weighed in on TD. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Royal Bank Of Canada raised their price target 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. Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Toronto Dominion Bank in a research note on Friday, August 21st. They issued a “market perform” rating on the stock.

Toronto Dominion Bank Stock Performance

Shares of TD stock opened at $120.68 on Tuesday. Toronto Dominion Bank has a 1-year low of $77.26 and a 1-year high of $125.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $198.50 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.20 and a beta of 0.73. The stock’s fifty day simple moving average is $120.69 and its 200-day simple moving average is $112.64.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.24. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%.The firm had revenue of $12.07 billion for the quarter, compared to analyst estimates of $10.70 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. Toronto Dominion Bank’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Toronto Dominion Bank will post 7.04 earnings per share for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Friday, October 9th will be paid a dividend of C$1.12 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. Toronto Dominion Bank’s dividend payout ratio (DPR) is 46.81%.

Hedge Funds Weigh In On Toronto Dominion Bank

Several institutional investors and hedge funds have recently modified their holdings of TD. Hillsdale Investment Management Inc. grew its stake in Toronto Dominion Bank by 3.0% in the first 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 in the last quarter. Alberta Investment Management Corp acquired a new position in Toronto Dominion Bank in the 4th quarter worth about $299,850,000. State of Wyoming raised its stake in shares of Toronto Dominion Bank by 1,018.7% during the 1st quarter. State of Wyoming now owns 22,765 shares of the bank’s stock worth $2,119,000 after purchasing an additional 20,730 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Toronto Dominion Bank during the 2nd quarter worth about $202,900,000. Finally, Ninepoint Partners LP acquired a new stake in shares of Toronto Dominion Bank during the 2nd quarter valued at about $29,903,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank, operating under the TD name, is a Canadian financial services company headquartered in Toronto, Ontario. The bank traces its history to the formation of The Toronto-Dominion Bank in 1955 through the merger of The Bank of Toronto, founded in 1855, and The Dominion Bank, founded in 1869.

TD provides a broad range of banking and financial services to individuals, businesses and institutions. Its offerings include personal and commercial deposit accounts, mortgages, consumer and business lending, credit cards, payment services, investment products, insurance and wealth management.