The Toronto-Dominion Bank (NYSE:TD) Receives Average Recommendation of “Buy” from Brokerages
The Toronto-Dominion Bank (NYSE:TD) has been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are covering the company. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $55.97.
A number of brokerages have recently issued reports on TD. Canaccord Genuity reissued a “buy” rating and issued a $23.00 target price on shares of The Toronto-Dominion Bank in a report on Wednesday, June 8th. Bank of America Corp. reissued a “buy” rating on shares of The Toronto-Dominion Bank in a report on Tuesday, July 12th. Citigroup Inc. increased their target price on The Toronto-Dominion Bank from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. BMO Capital Markets reissued a “buy” rating on shares of The Toronto-Dominion Bank in a report on Wednesday, July 6th. Finally, Dundee Securities began coverage on The Toronto-Dominion Bank in a report on Wednesday, September 21st. They issued a “buy” rating for the company.
Hedge funds and other institutional investors have recently bought and sold shares of the company. First New York Securities LLC NY bought a new position in The Toronto-Dominion Bank during the second quarter valued at about $107,000. Zions Bancorporation raised its position in The Toronto-Dominion Bank by 282.5% in the first quarter. Zions Bancorporation now owns 2,639 shares of the company’s stock valued at $115,000 after buying an additional 1,949 shares in the last quarter. Cribstone Capital Management LLC bought a new position in The Toronto-Dominion Bank during the second quarter valued at about $118,000. Teachers Advisors Inc. raised its position in The Toronto-Dominion Bank by 993.0% in the second quarter. Teachers Advisors Inc. now owns 2,820 shares of the company’s stock valued at $121,000 after buying an additional 2,562 shares in the last quarter. Finally, AHL Partners LLP bought a new position in The Toronto-Dominion Bank during the second quarter valued at about $201,000. Institutional investors and hedge funds own 51.77% of the company’s stock.
The Toronto-Dominion Bank (NYSE:TD) traded up 0.43% during midday trading on Friday, hitting $44.50. The stock had a trading volume of 979,043 shares. The company’s 50-day moving average price is $44.29 and its 200 day moving average price is $43.55. The Toronto-Dominion Bank has a 12-month low of $33.49 and a 12-month high of $45.98. The stock has a market cap of $82.54 billion, a P/E ratio of 13.12 and a beta of 0.98.
The Toronto-Dominion Bank (NYSE:TD) last posted its quarterly earnings results on Thursday, August 25th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.21 by $0.06. The firm earned $8.70 billion during the quarter. The Toronto-Dominion Bank had a return on equity of 13.56% and a net margin of 21.02%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. On average, equities research analysts predict that The Toronto-Dominion Bank will post $3.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 7th will be given a $0.4249 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.84%. This is a positive change from The Toronto-Dominion Bank’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, October 5th. The Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 50.45%.
About The Toronto-Dominion Bank
The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank conducts its business through segments, such as Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses, including credit cards, auto finance, wealth and insurance businesses.
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