Toronto Dominion Bank (The) (NYSE:TD) Given Average Recommendation of “Hold” by Brokerages

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $93.00.

A number of research analysts have recently commented on TD shares. Desjardins raised Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Scotiabank began coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They set a “sector perform” rating for the company. Royal Bank Of Canada lifted 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 research report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th.

Toronto Dominion Bank Stock Down 0.6%

Toronto Dominion Bank stock opened at $74.08 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $75.58. The firm’s fifty day simple moving average is $73.11 and its 200-day simple moving average is $65.50. The company has a market capitalization of $127.06 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.62 and a beta of 0.84.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.14. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $13.36 billion. During the same period last year, the company earned $2.04 earnings per share. Sell-side analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were given a $0.7568 dividend. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, July 10th. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 45.31%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TD. Oppenheimer & Co. Inc. lifted its position in Toronto Dominion Bank by 144.6% in the first quarter. Oppenheimer & Co. Inc. now owns 11,532 shares of the bank’s stock worth $691,000 after purchasing an additional 6,818 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Toronto Dominion Bank by 7.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,606,446 shares of the bank’s stock valued at $96,290,000 after buying an additional 104,864 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Toronto Dominion Bank by 38.6% during the 1st quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank’s stock worth $599,064,000 after acquiring an additional 2,780,984 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Toronto Dominion Bank by 1.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank’s stock valued at $743,037,000 after acquiring an additional 181,781 shares in the last quarter. Finally, Williams Financial LLC acquired a new position in Toronto Dominion Bank in the first quarter worth about $228,000. Institutional investors own 52.37% of the company’s stock.

About Toronto Dominion Bank

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.