Toronto Dominion Bank (The) (NYSE:TD) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Four analysts rate TD a buy, four recommend holding, and one gives a strong-buy rating. The average 12-month price target is $156, above the reported share price of $124.11.
• TD exceeded quarterly expectations: The bank reported $1.98 in earnings per share versus the $1.74 consensus estimate, while revenue reached $12.07 billion and increased 6.9% year over year.
• Shareholders will receive a quarterly dividend of $1.12, equivalent to $4.48 annually and a 3.6% yield; institutional investors own 52.37% of the stock.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD has received an average recommendation of "Moderate Buy" from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $156.00.

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a research 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 note on Wednesday, August 5th. Keefe, Bruyette & Woods started coverage on shares of Toronto Dominion Bank in a report on Friday, August 21st. They set a "market perform" rating for the company. Finally, Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd.

Hedge Funds Weigh In On Toronto Dominion Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Altus USA Inc. boosted its stake in Toronto Dominion Bank by 3.6% in the 2nd quarter. Wellington Altus USA Inc. now owns 8,449 shares of the bank's stock worth $1,026,000 after purchasing an additional 292 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Toronto Dominion Bank by 1.6% in the second quarter. Sequoia Financial Advisors LLC now owns 23,508 shares of the bank's stock worth $2,855,000 after buying an additional 379 shares during the last quarter. Tidal Investments LLC raised its holdings in Toronto Dominion Bank by 0.6% in the second quarter. Tidal Investments LLC now owns 48,237 shares of the bank's stock worth $5,857,000 after buying an additional 278 shares during the last quarter. NorthRock Partners LLC bought a new position in shares of Toronto Dominion Bank in the second quarter worth approximately $324,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Toronto Dominion Bank by 1.6% in the second quarter. NewEdge Advisors LLC now owns 9,316 shares of the bank's stock worth $1,131,000 after buying an additional 145 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Price Performance

TD opened at $124.11 on Tuesday. 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 cap of $204.14 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.22 and a beta of 0.73. The stock has a fifty day simple moving average of $120.95 and a two-hundred day simple moving average of $112.09. Toronto Dominion Bank has a 12-month low of $77.26 and a 12-month high of $125.46.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.24. The firm had revenue of $12.07 billion for the quarter, compared to analysts' expectations of $10.70 billion. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. The company's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. Research 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 issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, October 9th. Toronto Dominion Bank's payout ratio is 46.81%.

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.

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