The Toronto-Dominion Bank (NYSE:TD) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $93.00.

Several research analysts have issued reports on the company. Jefferies Financial Group cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Wall Street Zen raised shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th. Royal Bank of Canada increased their price target on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a “sector perform” rating in a report on Friday, May 23rd. Finally, Scotiabank began coverage on shares of Toronto-Dominion Bank in a research note on Thursday, May 15th. They issued a “sector perform” rating for the company.

Toronto-Dominion Bank Trading Up 1.0%

Shares of Toronto-Dominion Bank stock opened at $69.99 on Wednesday. The firm has a market cap of $121.48 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81. Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $70.00. The company’s 50-day simple moving average is $62.54 and its 200-day simple moving average is $58.74. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.14. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $13.36 billion. Toronto-Dominion Bank had a return on equity of 13.96% and a net margin of 7.37%. During the same quarter in the previous year, the firm posted $2.04 EPS. As a group, equities research analysts anticipate that Toronto-Dominion Bank will post 5.48 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 Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.7568 per share. This represents a $3.03 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Thursday, July 10th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.73. Toronto-Dominion Bank’s payout ratio is 42.67%.

Institutional Trading of Toronto-Dominion Bank

Several large investors have recently modified their holdings of TD. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Toronto-Dominion Bank in the fourth quarter valued at $416,000. Vanguard Group Inc. raised its stake in Toronto-Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after purchasing an additional 1,415,934 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Toronto-Dominion Bank by 3.4% in the 4th quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank’s stock valued at $384,042,000 after purchasing an additional 236,037 shares in the last quarter. Nicola Wealth Management LTD. boosted its stake in shares of Toronto-Dominion Bank by 15.5% during the 4th quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank’s stock worth $27,153,000 after purchasing an additional 68,400 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd boosted its stake in shares of Toronto-Dominion Bank by 21.2% during the 4th quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank’s stock worth $3,383,000 after purchasing an additional 11,100 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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 four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.