The Toronto-Dominion Bank (NYSE:TD) Given Average Recommendation of "Hold" by Brokerages

The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD has been assigned an average recommendation of "Hold" from the nine ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $93.00.

TD has been the subject of several analyst reports. Royal Bank of Canada upped their price objective on Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research note on Friday, May 23rd. Scotiabank began coverage on Toronto-Dominion Bank in a research note on Thursday, May 15th. They set a "sector perform" rating for the company. Wall Street Zen raised Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Jefferies Financial Group cut shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th.

Toronto-Dominion Bank Stock Up 0.4%

NYSE:TD traded up $0.31 during midday trading on Wednesday, reaching $69.89. The company had a trading volume of 2,075,826 shares, compared to its average volume of 2,215,886. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $70.09. The firm has a market capitalization of $120.41 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.95 and a beta of 0.82. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The stock's fifty day simple moving average is $62.73 and its 200-day simple moving average is $58.82.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.14. The business had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $13.36 billion. Toronto-Dominion Bank had a return on equity of 13.96% and a net margin of 7.37%. During the same quarter last year, the business posted $2.04 EPS. On average, sell-side analysts anticipate that Toronto-Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be issued a dividend of $0.7568 per share. The ex-dividend date is Thursday, July 10th. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a yield of 4.33%. Toronto-Dominion Bank's payout ratio is currently 44.72%.

Institutional Trading of Toronto-Dominion Bank

Large investors have recently modified their holdings of the business. Asahi Life Asset Management CO. LTD. purchased a new position in Toronto-Dominion Bank during the fourth quarter worth $416,000. Vanguard Group Inc. boosted its stake in shares of Toronto-Dominion Bank by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after acquiring an additional 1,415,934 shares during the last quarter. JPMorgan Chase & Co. increased its position in Toronto-Dominion Bank by 3.4% during the 4th quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank's stock worth $384,042,000 after purchasing an additional 236,037 shares in the last quarter. Nicola Wealth Management LTD. raised its stake in Toronto-Dominion Bank by 15.5% in the 4th quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank's stock valued at $27,153,000 after purchasing an additional 68,400 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd raised its stake in Toronto-Dominion Bank by 21.2% in the 4th quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank's stock valued at $3,383,000 after purchasing an additional 11,100 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.