The Toronto-Dominion Bank (TSE:TD) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Toronto-Dominion Bank has a consensus analyst rating of “Moderate Buy”, based on coverage from 10 research firms. The average 12-month target price is C$151.42.
• Several analysts recently raised their price targets on TD, including Jefferies, CIBC, Scotiabank, National Bank Financial, and Raymond James. Most of the updated ratings were buy or outperform, though one firm kept a neutral view.
• The bank reported quarterly EPS of C$2.38 and revenue of C$16.04 billion, while also increasing its quarterly dividend to C$1.12 per share. The new payout implies an annualized dividend of C$4.48 and a yield of 2.7%.

Shares of The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD have received an average rating of "Moderate Buy" from the ten research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$151.42.

Several equities analysts have recently issued reports on TD shares. Jefferies Financial Group boosted their price objective on Toronto-Dominion Bank from C$134.00 to C$142.00 in a research report on Wednesday, May 20th. Canadian Imperial Bank of Commerce raised their target price on Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Scotiabank lifted their target price on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a "sector outperform" rating in a research note on Tuesday, June 16th. National Bank Financial boosted their price target on Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Finally, Raymond James Financial increased their price target on Toronto-Dominion Bank from C$152.50 to C$155.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th.

Toronto-Dominion Bank Stock Down 1.7%

Shares of TSE:TD opened at C$167.87 on Friday. The company has a market capitalization of C$277.33 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89. The company has a 50 day moving average of C$164.15 and a two-hundred day moving average of C$144.78. Toronto-Dominion Bank has a 52-week low of C$99.51 and a 52-week high of C$175.33.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last posted its quarterly earnings results on Thursday, May 28th. The company reported C$2.38 earnings per share (EPS) for the quarter. Toronto-Dominion Bank had a net margin of 13.21% and a return on equity of 11.85%. The firm had revenue of C$16.04 billion for the quarter. On average, equities analysts anticipate that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 31st will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.7%. This is a positive change from Toronto-Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. Toronto-Dominion Bank's payout ratio is currently 50.00%.

Insiders Place Their Bets

In other Toronto-Dominion Bank news, insider Kelvin Vi Luan Tran sold 8,498 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$156.61, for a total transaction of C$1,330,871.78. Following the completion of the transaction, the insider directly owned 26,677 shares of the company's stock, valued at approximately C$4,177,884.97. This trade represents a 24.16% decrease in their position. Also, insider Paul Martyn Clark sold 27,649 shares of Toronto-Dominion Bank stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the transaction, the insider owned 260 shares in the company, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their ownership of the stock. Company insiders own 0.08% of the company's stock.

About Toronto-Dominion Bank

TD Asset Management Inc ('TDAM'), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.