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

Key Points

• Analysts give TD a consensus rating of Moderate Buy from nine firms (4 hold, 2 buy, 3 strong buy) with an average 12‑month price target of $93.00.
• TD beat quarterly estimates with EPS of $1.76 versus $1.63 expected and revenue of $11.01B (up 18.1% year‑over‑year), with a return on equity of 14.29%.
• The bank declared a quarterly dividend of $1.08 (annualized $4.32, yield 4.7%, ex‑dividend Apr 9), and institutional investors now own about 52.37% of the shares after several large stake changes, including Auto Owners Insurance's ~3.96M‑share position.

Shares of Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD have been given a consensus rating of "Moderate Buy" by the nine research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $93.00.

A number of equities research analysts have recently issued reports on the company. Zacks Research raised Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday. Canadian Imperial Bank of Commerce cut Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Monday, March 2nd. Finally, National Bank Financial raised shares of Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research note on Thursday, December 18th.

Hedge Funds Weigh In On Toronto Dominion Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in TD. Purpose Unlimited Inc. purchased a new stake in shares of Toronto Dominion Bank in the fourth quarter valued at $47,488,000. Rockefeller Capital Management L.P. grew its holdings in shares of Toronto Dominion Bank by 20.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 25,384 shares of the bank's stock valued at $2,391,000 after buying an additional 4,345 shares in the last quarter. World Investment Advisors raised its position in Toronto Dominion Bank by 38.1% during the fourth quarter. World Investment Advisors now owns 10,199 shares of the bank's stock valued at $961,000 after buying an additional 2,813 shares during the period. Auto Owners Insurance Co raised its position in Toronto Dominion Bank by 9,320.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank's stock valued at $396,544,000 after buying an additional 3,923,347 shares during the period. Finally, Bayban purchased a new stake in Toronto Dominion Bank in the 4th quarter worth about $28,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Up 0.2%

Shares of NYSE:TD opened at $91.58 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $153.06 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.04 and a beta of 0.66. Toronto Dominion Bank has a 1-year low of $54.87 and a 1-year high of $99.84. The company has a 50 day moving average price of $95.31 and a 200 day moving average price of $88.69.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.13. The company had revenue of $11.01 billion for the quarter, compared to analysts' expectations of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm's revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 earnings per share. On average, research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 9th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Thursday, April 9th. Toronto Dominion Bank's dividend payout ratio is 34.81%.

Toronto Dominion Bank Company Profile

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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