Toronto Dominion Bank (The) (NYSE:TD) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Toronto Dominion Bank has received a consensus rating of "Hold" from analysts, with one sell rating, four hold ratings, and three buy ratings among the eight analysts covering the stock.
• The bank announced a quarterly dividend increase to $1.05, which will be paid on October 31st, representing a 5.5% annual yield based on the current price.
• In its recent quarterly earnings report, Toronto Dominion Bank reported $1.91 earnings per share, beating analysts' expectations of $1.46, with a revenue of $10.12 billion, falling short of the anticipated $13.73 billion.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD has received a consensus rating of "Hold" from the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $93.00.

A number of research firms have commented on TD. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Royal Bank Of Canada lifted their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a report on Friday, May 23rd. Scotiabank began coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Finally, Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th.

Institutional Trading of Toronto Dominion Bank

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Toronto Dominion Bank by 3.4% during the second quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank's stock valued at $5,677,291,000 after purchasing an additional 2,552,603 shares during the period. TD Asset Management Inc grew its holdings in Toronto Dominion Bank by 0.9% during the second quarter. TD Asset Management Inc now owns 37,365,008 shares of the bank's stock valued at $2,742,748,000 after purchasing an additional 329,429 shares during the period. Mackenzie Financial Corp grew its holdings in Toronto Dominion Bank by 4.5% during the first quarter. Mackenzie Financial Corp now owns 29,252,736 shares of the bank's stock valued at $1,752,806,000 after purchasing an additional 1,262,062 shares during the period. 1832 Asset Management L.P. grew its holdings in Toronto Dominion Bank by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank's stock valued at $1,656,213,000 after purchasing an additional 101,678 shares during the period. Finally, Norges Bank bought a new stake in Toronto Dominion Bank during the second quarter valued at about $1,543,639,000. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Stock Up 1.2%

Shares of NYSE:TD opened at $76.80 on Friday. The stock has a fifty day simple moving average of $74.17 and a two-hundred day simple moving average of $67.45. The stock has a market capitalization of $131.18 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.64 and a beta of 0.81. Toronto Dominion Bank has a 12-month low of $51.25 and a 12-month high of $78.95. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.45. The business had revenue of $10.12 billion during the quarter, compared to analysts' expectations of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 earnings per share. On average, research 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 Friday, October 31st. Investors of record on Friday, October 10th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. This represents a $4.20 annualized dividend and a dividend yield of 5.5%. Toronto Dominion Bank's dividend payout ratio is presently 36.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.