Toronto Dominion Bank (The) (NYSE:TD) Given Average Rating of “Moderate Buy” by Analysts
by Danessa Lincoln · The Markets DailyToronto Dominion Bank (The) (NYSE:TD – Get Free Report) (TSE:TD) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $93.00.
Several research firms have issued reports on TD. Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a report on Friday, March 27th. Zacks Research upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Finally, National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th.
Institutional Investors Weigh In On Toronto Dominion Bank
Several hedge funds have recently bought and sold shares of TD. Canada Pension Plan Investment Board lifted its holdings in shares of Toronto Dominion Bank by 18.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock worth $917,832,000 after acquiring an additional 1,946,172 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Toronto Dominion Bank by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock valued at $1,010,852,000 after acquiring an additional 115,203 shares during the last quarter. State of Wyoming raised its position in Toronto Dominion Bank by 236.4% during the third quarter. State of Wyoming now owns 25,765 shares of the bank’s stock valued at $2,061,000 after purchasing an additional 18,105 shares in the last quarter. Citigroup Inc. raised its position in Toronto Dominion Bank by 21.8% during the third quarter. Citigroup Inc. now owns 935,526 shares of the bank’s stock valued at $74,821,000 after purchasing an additional 167,736 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Toronto Dominion Bank by 1,477.7% during the second quarter. Public Sector Pension Investment Board now owns 2,666,729 shares of the bank’s stock worth $195,749,000 after purchasing an additional 2,497,700 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.
Toronto Dominion Bank Stock Up 0.0%
Shares of NYSE TD opened at $95.24 on Tuesday. Toronto Dominion Bank has a 52 week low of $54.87 and a 52 week high of $99.84. The business has a 50-day simple moving average of $95.35 and a two-hundred day simple moving average of $89.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09. The company has a market cap of $158.67 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.08 and a beta of 0.65.
Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last announced its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm had revenue of $11.01 billion for the quarter, compared to analysts’ expectations of $10.43 billion. During the same period in the prior year, the business posted $2.02 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. Research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.
Toronto Dominion Bank Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 annualized dividend and a dividend yield of 4.5%. Toronto Dominion Bank’s payout ratio is presently 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.