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

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has been assigned an average rating of “Hold” from the nine research firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $84.00.

A number of brokerages have issued reports on TD. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. UBS Group assumed coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. BMO Capital Markets dropped their price objective on 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. 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.

Toronto-Dominion Bank Trading Up 0.8 %

NYSE TD opened at $59.92 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The firm’s fifty day simple moving average is $57.35 and its 200-day simple moving average is $57.68. The company has a market capitalization of $104.70 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.75 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. As a group, sell-side analysts anticipate that Toronto-Dominion Bank will post 5.84 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 67.05%.

Institutional Investors Weigh In On Toronto-Dominion Bank

A number of institutional investors have recently bought and sold shares of TD. Clearbridge Investments LLC boosted its stake in Toronto-Dominion Bank by 7.5% in the 2nd quarter. Clearbridge Investments LLC now owns 3,065,894 shares of the bank’s stock valued at $168,496,000 after buying an additional 213,557 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Toronto-Dominion Bank during the second quarter valued at $1,637,000. Kimelman & Baird LLC acquired a new stake in shares of Toronto-Dominion Bank in the 2nd quarter valued at $49,000. Magnolia Capital Advisors LLC bought a new stake in shares of Toronto-Dominion Bank in the 2nd quarter worth about $792,000. Finally, Mackenzie Financial Corp increased its position in shares of Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock worth $1,429,186,000 after purchasing an additional 218,807 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.