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

Key Points

• Toronto Dominion Bank has a consensus analyst rating of “Moderate Buy” from nine brokerages, with an average 12-month price target of $156.00.
• Recent analyst actions were mixed, including upgrades from Raymond James and Scotiabank, alongside downgrades from Weiss Ratings, Wall Street Zen, and Zacks Research.
• The bank beat fiscal quarterly estimates with $1.74 EPS versus $1.63 expected and raised its quarterly dividend to $1.12, up from $1.08, for an annualized yield of 3.8%.

Shares of Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD have earned a consensus recommendation of "Moderate Buy" from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $156.00.

A number of analysts recently weighed in on TD shares. Weiss Ratings downgraded Toronto Dominion Bank from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, June 11th. Wall Street Zen lowered Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Raymond James Financial upgraded Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research report on Tuesday, May 12th. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Scotiabank upgraded Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 4th.

Institutional Investors Weigh In On Toronto Dominion Bank

Several large investors have recently modified their holdings of the company. Puff Wealth Management LLC acquired a new position in Toronto Dominion Bank in the second quarter valued at $325,000. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in Toronto Dominion Bank by 9.9% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 240,904 shares of the bank's stock worth $29,280,000 after acquiring an additional 21,800 shares during the period. Assenagon Asset Management S.A. grew its holdings in Toronto Dominion Bank by 7.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 56,200 shares of the bank's stock worth $6,831,000 after acquiring an additional 3,860 shares during the period. 55 North Private Wealth LLC raised its position in shares of Toronto Dominion Bank by 28.6% in the 2nd quarter. 55 North Private Wealth LLC now owns 3,182 shares of the bank's stock worth $386,000 after acquiring an additional 707 shares in the last quarter. Finally, Hardin Capital Partners LLC bought a new position in shares of Toronto Dominion Bank in the 2nd quarter worth about $214,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Trading Down 2.4%

TD opened at $118.50 on Thursday. Toronto Dominion Bank has a fifty-two week low of $72.21 and a fifty-two week high of $122.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $195.81 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.35 and a beta of 0.71. The company's 50 day moving average price is $113.83 and its two-hundred day moving average price is $102.47.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.11. The firm had revenue of $11.80 billion during the quarter, compared to analysts' expectations of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company's revenue was down 31.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.97 EPS. As a group, research analysts predict that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be given a $1.12 dividend. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. Toronto Dominion Bank's dividend payout ratio is presently 48.52%.

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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