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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Toronto-Dominion Bank, with four buy ratings, one strong-buy rating and four hold ratings. The average 12-month price target is $148, compared with an opening price of $120.39.
• TD reported quarterly earnings of $1.98 per share, exceeding the $1.74 analyst estimate, while revenue of $12.07 billion also topped expectations and rose 6.9% year over year.
• The bank declared a quarterly dividend of C$1.12, equivalent to C$4.48 annually and a 3.7% yield. Institutional investors own approximately 52.37% of the company’s stock.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD has been given a consensus recommendation of "Moderate Buy" by the nine research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $148.00.

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, September 28th. Finally, Keefe, Bruyette & Woods initiated coverage on Toronto Dominion Bank in a report on Friday, August 21st. They issued a "market perform" rating for the company.

Toronto Dominion Bank Stock Performance

TD opened at $120.39 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a fifty day moving average price of $119.91 and a 200 day moving average price of $115.09. Toronto Dominion Bank has a 1 year low of $78.47 and a 1 year high of $125.46. The stock has a market cap of $198.02 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.19 and a beta of 0.75.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.24. The company had revenue of $12.07 billion during 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 firm's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 earnings per share. Equities research analysts anticipate that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank Announces Dividend

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

Institutional Trading of Toronto Dominion Bank

A number of institutional investors and hedge funds have recently modified their holdings of TD. Hillsdale Investment Management Inc. lifted its holdings in Toronto Dominion Bank by 3.0% in the 1st 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. State of Wyoming boosted its stake in 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 during the last quarter. Bank of New York Mellon Corp acquired a new stake in Toronto Dominion Bank during the 2nd quarter worth $202,900,000. Ninepoint Partners LP purchased a new stake in shares of Toronto Dominion Bank during the second quarter worth $29,903,000. Finally, Bank of America Corp DE grew its holdings in shares of Toronto Dominion Bank by 7.8% during the first quarter. Bank of America Corp DE now owns 4,967,545 shares of the bank's stock worth $463,522,000 after buying an additional 358,412 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, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The bank was formed in 1955 through the merger of The Bank of Toronto and The Dominion Bank and serves customers in Canada and the United States.

TD provides a broad range of banking and financial services, including personal and commercial deposit accounts, lending, mortgages, credit cards, payments, investment products and financial advice. Its Canadian operations serve individuals, businesses and institutions, while its U.S.

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