Analysts Set The Toronto-Dominion Bank (NYSE:TD) Target Price at $84.00

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have earned an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $84.00.

Several research analysts recently weighed in on TD shares. Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Finally, UBS Group started coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $56.85 on Tuesday. The firm has a market capitalization of $99.40 billion, a P/E ratio of 18.16, a PEG ratio of 1.68 and a beta of 0.81. Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.12. The company’s fifty day moving average is $60.61 and its two-hundred day moving average is $57.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 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 business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same period in the previous year, the firm earned $1.48 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts forecast that Toronto-Dominion Bank will post 5.82 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.739 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.20%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 96.49%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several large investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in Toronto-Dominion Bank in the first quarter worth $29,000. Triad Wealth Partners LLC acquired a new stake in Toronto-Dominion Bank in the second quarter worth $31,000. Blue Trust Inc. increased its position in Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after buying an additional 212 shares during the period. Kimelman & Baird LLC acquired a new stake in Toronto-Dominion Bank in the second quarter worth $49,000. Finally, BOKF NA increased its holdings in shares of Toronto-Dominion Bank by 203.6% during the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after purchasing an additional 680 shares during the period. 52.37% of the stock is currently owned by institutional investors.

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.