Brokerages Set Toronto Dominion Bank (The) (NYSE:TD) Price Target at $93.00

Key Points

• Toronto Dominion Bank has received an average recommendation of "Hold" from analysts, with one sell rating, four holds, and three buy ratings among the eight firms covering the stock.
• The bank recently reported earnings per share of $1.39, surpassing the consensus estimate of $1.25, and announced an increase in its quarterly dividend to $0.7568.
• Institutional investors own 52.37% of Toronto Dominion Bank's stock, with notable increases in holdings by firms like Oppenheimer & Co. and JPMorgan Chase & Co. during the first quarter.

Shares of Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD have been given an average rating of "Hold" by the nine analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $93.00.

Several research analysts have issued reports on TD shares. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Scotiabank started coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Royal Bank Of Canada boosted their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research report on Friday, May 23rd. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th.

Toronto Dominion Bank Trading Up 0.5%

Shares of NYSE:TD traded up $0.3650 during trading hours on Monday, hitting $73.6750. 1,605,032 shares of the company's stock traded hands, compared to its average volume of 2,102,509. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $75.58. The business has a fifty day moving average price of $73.23 and a 200-day moving average price of $65.67. The firm has a market capitalization of $126.37 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results 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. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%.The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $13.36 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. Equities analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were issued a $0.7568 dividend. The ex-dividend date was Thursday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.1%. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 45.16%.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of large investors have recently bought and sold shares of TD. Raymond James Financial Inc. acquired a new position in shares of Toronto Dominion Bank during the fourth quarter worth $7,865,000. Guggenheim Capital LLC grew its position in Toronto Dominion Bank by 40.9% during the 4th quarter. Guggenheim Capital LLC now owns 6,771 shares of the bank's stock worth $360,000 after purchasing an additional 1,966 shares during the period. NewEdge Advisors LLC grew its position in Toronto Dominion Bank by 198.4% during the 4th quarter. NewEdge Advisors LLC now owns 6,334 shares of the bank's stock worth $337,000 after purchasing an additional 4,211 shares during the period. GeoWealth Management LLC grew its position in Toronto Dominion Bank by 972.9% during the 4th quarter. GeoWealth Management LLC now owns 1,030 shares of the bank's stock worth $55,000 after purchasing an additional 934 shares during the period. Finally, First Trust Advisors LP grew its position in Toronto Dominion Bank by 9.1% during the 4th quarter. First Trust Advisors LP now owns 866,806 shares of the bank's stock worth $46,149,000 after purchasing an additional 72,135 shares during the period. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Company Profile

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.