Toronto Dominion Bank (The) (NYSE:TD) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Nine brokerages give TD an average rating of "Moderate Buy" (4 holds, 3 buys, 2 strong buys) with a 1‑year average target price of $93.00.
• Most recent quarter beat estimates—EPS $1.76 vs $1.63 and revenue $11.01B vs $10.43B—while revenue rose 18.1% year‑over‑year and the bank reported a 14.29% ROE and 17.52% net margin.
• TD declared a quarterly dividend of $1.08 (annualized $4.32) implying a 4.5% yield

Shares of Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD have received an average rating of "Moderate Buy" from the nine research firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $93.00.

TD has been the subject of a number of research reports. Jefferies Financial Group downgraded Toronto Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, November 25th. Raymond James Financial upgraded shares of Toronto Dominion Bank to a "hold" rating in a research note on Monday, November 24th. Zacks Research raised shares of Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Monday. Finally, National Bank Financial upgraded shares of Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a report on Thursday, December 18th.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $97.07 on Friday. The company has a 50-day simple moving average of $95.41 and a two-hundred day simple moving average of $86.21. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $162.23 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.12 and a beta of 0.66. Toronto Dominion Bank has a one year low of $54.87 and a one year high of $99.84.

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

Toronto Dominion Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 9th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto Dominion Bank's dividend payout ratio (DPR) is 34.92%.

Institutional Investors Weigh In On Toronto Dominion Bank

Several hedge funds have recently added to or reduced their stakes in TD. True Wealth Design LLC bought a new stake in shares of Toronto Dominion Bank in the third quarter worth approximately $27,000. Bayban purchased a new stake in Toronto Dominion Bank in the fourth quarter worth approximately $28,000. Mather Group LLC. bought a new stake in Toronto Dominion Bank in the 3rd quarter worth approximately $30,000. Harvest Fund Management Co. Ltd raised its stake in Toronto Dominion Bank by 112.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock valued at $30,000 after buying an additional 168 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Toronto Dominion Bank during the 2nd quarter valued at $32,000. 52.37% of the stock is owned by institutional investors.

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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