Toronto Dominion Bank (The) (NYSE:TD) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Toronto-Dominion Bank a “Moderate Buy” consensus: Five of nine analysts rate it a buy, one a strong buy and three a hold. The average 12-month price target is $156, compared with the stock’s reported $119.86 opening price.
• TD’s latest quarterly results exceeded expectations, with EPS of $1.74 versus the $1.63 consensus and revenue of $11.80 billion versus estimates of $11.04 billion. However, revenue declined 31.1% year over year.
• The bank raised its quarterly dividend to $1.12 per share, or $4.48 annualized, representing a 3.7% yield and a 49.14% payout ratio; institutional investors own 52.37% of the stock.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD has earned a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $156.00.

A number of brokerages recently issued reports on TD. Raymond James Financial upgraded Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Royal Bank Of Canada increased their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Zacks Research cut Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded Toronto Dominion Bank from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st.

Institutional Trading of Toronto Dominion Bank

Large investors have recently made changes to their positions in the business. Hillsdale Investment Management Inc. raised its stake in shares of Toronto Dominion Bank by 3.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank's stock valued at $112,185,000 after buying an additional 34,921 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Toronto Dominion Bank by 433.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank's stock worth $1,528,000 after buying an additional 13,179 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Toronto Dominion Bank during the fourth quarter worth about $299,850,000. State of Wyoming raised its position in Toronto Dominion Bank by 1,018.7% during the first quarter. State of Wyoming now owns 22,765 shares of the bank's stock valued at $2,119,000 after acquiring an additional 20,730 shares in the last quarter. Finally, JCIC Asset Management Inc. lifted its holdings in Toronto Dominion Bank by 891.5% in the fourth quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank's stock valued at $8,035,000 after acquiring an additional 76,650 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Stock Down 0.1%

TD stock opened at $119.86 on Monday. The firm has a 50 day moving average of $118.24 and a 200 day moving average of $105.65. The stock has a market capitalization of $197.14 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.34 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52 week low of $72.21 and a 52 week high of $124.87.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the business posted $1.97 EPS. Toronto Dominion Bank's revenue for the quarter was down 31.1% compared to the same quarter last year. Sell-side analysts forecast that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's payout ratio is 49.14%.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada's largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD's core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.

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