Toronto Dominion Bank (The) (NYSE:TD) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts give TD a “Moderate Buy” consensus: Of nine analysts, three rate the stock a buy, two a strong buy, and four a hold; the average 12-month price target is $148.
• TD beat quarterly expectations, reporting EPS of $1.98 versus $1.74 expected and revenue of $12.07 billion versus $10.70 billion forecast. Revenue increased 6.9% year over year.
• The bank authorized a $7.14 billion share repurchase program, covering up to 3.5% of its shares, and pays an annualized dividend of C$4.48 per share, representing a 3.6% yield.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD has earned an average rating of "Moderate Buy" from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $148.00.

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Keefe, Bruyette & Woods assumed coverage on Toronto Dominion Bank in a research report on Friday, August 21st. They set a "market perform" rating on the stock. Finally, Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, October 21st.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock opened at $123.87 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $201.12 billion, a PE ratio of 18.41, a P/E/G ratio of 1.13 and a beta of 0.72. The company has a 50 day moving average price of $121.20 and a 200-day moving average price of $111.53. Toronto Dominion Bank has a fifty-two week low of $80.23 and a fifty-two week high of $128.79.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.24. The company had revenue of $12.07 billion for the quarter, compared to analysts' expectations of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%. Toronto Dominion Bank's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 earnings per share. As a group, equities analysts forecast that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank announced that its board has authorized a share buyback program on Wednesday, September 30th that allows the company to repurchase $7.14 billion in shares. This repurchase authorization allows the bank to buy up to 3.5% of its shares through open market purchases. Share repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Toronto Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Friday, October 9th were paid a C$1.12 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. Toronto Dominion Bank's dividend payout ratio is 46.81%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC raised its holdings in shares of Toronto Dominion Bank by 77.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 218 shares of the bank's stock valued at $26,000 after purchasing an additional 95 shares in the last quarter. Bryn Mawr Trust Advisors LLC boosted its stake in shares of Toronto Dominion Bank by 3.7% during the third quarter. Bryn Mawr Trust Advisors LLC now owns 2,720 shares of the bank's stock valued at $320,000 after purchasing an additional 98 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Toronto Dominion Bank by 1.8% during the first quarter. Chicago Partners Investment Group LLC now owns 5,735 shares of the bank's stock valued at $535,000 after purchasing an additional 102 shares in the last quarter. Aspiriant LLC boosted its stake in shares of Toronto Dominion Bank by 2.4% during the third quarter. Aspiriant LLC now owns 4,343 shares of the bank's stock valued at $510,000 after purchasing an additional 103 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in Toronto Dominion Bank by 1.5% during the first quarter. Checchi Capital Advisers LLC now owns 7,194 shares of the bank's stock valued at $671,000 after buying an additional 104 shares during the period. 52.37% of the stock is currently owned by institutional investors.

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.

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