Toronto Dominion Bank (The) (NYSE:TD) Stock Has Consensus Price Target of $148.00

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $148.00.

Several equities research analysts recently issued reports on TD shares. Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, October 21st. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Toronto Dominion Bank in a research report on Friday, August 21st. They issued a “market perform” rating for the company.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $123.77 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $121.35 and a two-hundred day simple moving average of $111.96. The stock has a market cap of $200.96 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.14 and a beta of 0.72. Toronto Dominion Bank has a 52 week low of $80.23 and a 52 week high of $128.79.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, topping the consensus estimate of $1.74 by $0.24. The firm had revenue of $12.07 billion for the quarter, compared to the consensus estimate of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 earnings per share. On average, analysts expect that Toronto Dominion Bank will post 6.98 EPS for the current year.

Toronto Dominion Bank announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 30th that permits the company to buy back $7.14 billion in shares. This buyback authorization permits the bank to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Toronto Dominion Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Friday, October 9th were given a dividend of C$1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, October 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 46.81%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TD. Cornerstone Financial Management LLC boosted its stake in shares of Toronto Dominion Bank by 77.2% in the second quarter. Cornerstone Financial Management LLC now owns 218 shares of the bank’s stock worth $26,000 after acquiring an additional 95 shares during the period. Heritage Family Offices LLP bought a new stake in Toronto Dominion Bank during the 3rd quarter valued at approximately $35,000. Pension & Wealth Management Advisors Inc. bought a new stake in Toronto Dominion Bank during the 3rd quarter valued at approximately $41,000. Compass Wealth Management LLC purchased a new position in Toronto Dominion Bank in the 3rd quarter worth approximately $41,000. Finally, Continuum Advisory LLC purchased a new position in Toronto Dominion Bank in the 2nd quarter worth approximately $43,000. Institutional investors own 52.37% of the company’s stock.

About Toronto Dominion Bank

The Toronto-Dominion Bank, commonly known as TD Bank Group, is a Canadian financial services company serving personal, business, corporate and institutional clients. Its services include everyday banking, deposits, mortgages and other lending, credit cards, wealth management, insurance and capital markets services. TD operates primarily in Canada and the United States through businesses that include TD Canada Trust, TD Bank and TD Securities. It also provides investment and wealth-management services through its TD Wealth businesses.