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

Key Points

• Analysts give Toronto-Dominion Bank a “Moderate Buy” consensus rating: Seven of 10 analysts recommend buying the stock, while two recommend holding and one recommends selling. The average 12-month price target is C$159.17.
• TD opened at C$172.52, near its 52-week high of C$175.33, with a market capitalization of C$285.01 billion and a P/E ratio of 20.25.
• The bank reported quarterly revenue of C$16.04 billion and earnings of C$2.38 per share, and increased its quarterly dividend to C$1.12 per share, representing a 2.6% annualized yield.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD has been assigned a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$159.17.

A number of brokerages have recently commented on TD. Canadian Imperial Bank of Commerce raised their price objective on shares of Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Barclays increased their price target on shares of Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the stock an "underweight" rating in a report on Friday, May 29th. National Bank Financial raised their price target on shares of Toronto-Dominion Bank from C$162.00 to C$190.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Canaccord Genuity Group raised their price target on shares of Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Finally, Scotiabank lifted their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a "sector outperform" rating in a report on Tuesday, June 16th.

Toronto-Dominion Bank Price Performance

TSE TD opened at C$172.52 on Tuesday. The company has a market capitalization of C$285.01 billion, a PE ratio of 20.25, a P/E/G ratio of 1.22 and a beta of 0.88. The company has a fifty day moving average of C$169.23 and a 200 day moving average of C$149.44. Toronto-Dominion Bank has a 1 year low of C$100.01 and a 1 year 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 EPS for the quarter. Toronto-Dominion Bank had a net margin of 13.21% and a return on equity of 11.85%. The company had revenue of C$16.04 billion for the quarter. Research analysts expect that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 31st were given a dividend of $1.12 per share. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date was Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.6%. Toronto-Dominion Bank's payout ratio is 50.00%.

Insider Activity

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

Toronto-Dominion Bank Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source