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

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $88.83.

A number of research firms recently commented on TD. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Barclays cut their target price on Toronto-Dominion Bank from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Friday, August 25th. Credit Suisse Group decreased their price target on Toronto-Dominion Bank from $93.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, August 25th. Finally, Royal Bank of Canada cut their price objective on Toronto-Dominion Bank from $96.00 to $94.00 and set an “outperform” rating on the stock in a research report on Friday, August 25th.

Toronto-Dominion Bank Trading Down 0.0 %

Shares of TD stock opened at $62.11 on Monday. The company has a market cap of $113.50 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91. Toronto-Dominion Bank has a 1 year low of $55.43 and a 1 year high of $70.67. The stock’s 50 day simple moving average is $62.64 and its two-hundred day simple moving average is $61.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 24th. The bank reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.04). The company had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9 billion. Toronto-Dominion Bank had a net margin of 15.25% and a return on equity of 15.17%. Research analysts predict that Toronto-Dominion Bank will post 6.05 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be given a dividend of $0.725 per share. The ex-dividend date is Thursday, October 5th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. This represents a $2.90 dividend on an annualized basis and a yield of 4.67%. Toronto-Dominion Bank’s payout ratio is 50.26%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Toronto-Dominion Bank during the 2nd quarter valued at about $25,000. Fairfield Bush & CO. purchased a new position in Toronto-Dominion Bank during the first quarter valued at approximately $26,000. Fortis Capital Advisors LLC purchased a new stake in Toronto-Dominion Bank during the fourth quarter worth $26,000. PCA Investment Advisory Services Inc. bought a new stake in Toronto-Dominion Bank during the 2nd quarter valued at $26,000. Finally, Annapolis Financial Services LLC increased its holdings in shares of Toronto-Dominion Bank by 83.3% in the 1st quarter. Annapolis Financial Services LLC now owns 429 shares of the bank’s stock valued at $26,000 after acquiring an additional 195 shares during the period. Institutional investors own 51.52% of the company’s stock.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.