The Toronto-Dominion Bank (NYSE:TD) Given Consensus Recommendation of “Hold” by Analysts

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been given an average rating of “Hold” by the ten research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $88.00.

TD has been the topic of several analyst reports. BMO Capital Markets decreased their target price on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research note on Friday, May 24th. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. National Bank Financial lowered shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd. Barclays assumed coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Finally, Cibc World Mkts raised shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th.

Institutional Investors Weigh In On Toronto-Dominion Bank

Institutional investors have recently modified their holdings of the business. Family Legacy Inc. boosted its stake in shares of Toronto-Dominion Bank by 0.7% in the 1st quarter. Family Legacy Inc. now owns 26,351 shares of the bank’s stock worth $1,591,000 after buying an additional 172 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Toronto-Dominion Bank by 10.6% in the 4th quarter. Private Trust Co. NA now owns 1,808 shares of the bank’s stock worth $117,000 after purchasing an additional 174 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of Toronto-Dominion Bank by 0.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 20,126 shares of the bank’s stock worth $1,301,000 after purchasing an additional 174 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Toronto-Dominion Bank by 5.3% in the first quarter. Park Avenue Securities LLC now owns 3,641 shares of the bank’s stock worth $220,000 after buying an additional 184 shares during the last quarter. Finally, Consolidated Portfolio Review Corp grew its position in Toronto-Dominion Bank by 1.6% during the first quarter. Consolidated Portfolio Review Corp now owns 11,583 shares of the bank’s stock valued at $699,000 after buying an additional 186 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD opened at $54.24 on Wednesday. Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $66.15. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average is $56.49 and its 200 day moving average is $59.27. The stock has a market cap of $95.44 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.49 and a beta of 0.83.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. The firm had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. On average, sell-side analysts anticipate that Toronto-Dominion Bank will post 5.86 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s payout ratio is 68.64%.

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.