The Toronto-Dominion Bank (NYSE:TD) Receives $84.00 Average Target Price from Analysts

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have received an average rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $84.00.

Several research analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Toronto-Dominion Bank by 61.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after acquiring an additional 2,215,185 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Toronto-Dominion Bank by 31.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock valued at $549,550,000 after purchasing an additional 2,188,263 shares during the period. National Bank of Canada FI boosted its position in shares of Toronto-Dominion Bank by 6.2% in the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock valued at $1,677,917,000 after purchasing an additional 1,736,931 shares during the period. 1832 Asset Management L.P. increased its stake in Toronto-Dominion Bank by 6.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after purchasing an additional 1,462,794 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Toronto-Dominion Bank by 17.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 8,175,457 shares of the bank’s stock worth $493,880,000 after buying an additional 1,238,502 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Trading Up 0.4 %

Shares of TD opened at $63.54 on Friday. Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $65.12. The firm has a market capitalization of $111.09 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.85 and a beta of 0.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $59.98 and its 200 day simple moving average is $58.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Toronto-Dominion Bank will post 5.84 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.739 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 4.65%. Toronto-Dominion Bank’s payout ratio is 67.73%.

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.