Shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been given an average rating of “Hold” by the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $72.91.
A number of equities analysts have recently commented on the company. Barclays lowered their price target on Toronto-Dominion Bank from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Wolfe Research cut Toronto-Dominion Bank from an “outperform” rating to an “underperform” rating in a report on Monday, June 8th. Cfra reduced their price objective on Toronto-Dominion Bank from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. ValuEngine upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Scotiabank boosted their price objective on Toronto-Dominion Bank from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its position in shares of Toronto-Dominion Bank by 4.8% during the 1st quarter. CIBC Asset Management Inc now owns 22,865,926 shares of the bank’s stock valued at $968,572,000 after purchasing an additional 1,057,430 shares in the last quarter. Jarislowsky Fraser Ltd boosted its position in shares of Toronto-Dominion Bank by 1.0% during the 4th quarter. Jarislowsky Fraser Ltd now owns 21,673,705 shares of the bank’s stock valued at $1,217,270,000 after purchasing an additional 207,688 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Toronto-Dominion Bank by 10.8% during the 1st quarter. 1832 Asset Management L.P. now owns 21,180,405 shares of the bank’s stock valued at $883,332,000 after purchasing an additional 2,071,148 shares in the last quarter. Norges Bank bought a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at about $1,067,750,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Toronto-Dominion Bank by 10.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 17,988,895 shares of the bank’s stock valued at $756,157,000 after purchasing an additional 1,742,212 shares in the last quarter. Hedge funds and other institutional investors own 48.00% of the company’s stock.
Shares of Toronto-Dominion Bank stock traded up $0.43 during trading on Tuesday, reaching $44.53. 100,028 shares of the company’s stock were exchanged, compared to its average volume of 2,043,508. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 0.98. Toronto-Dominion Bank has a 1-year low of $33.74 and a 1-year high of $59.55. The company has a market cap of $78.41 billion, a P/E ratio of 10.34, a PEG ratio of 1.76 and a beta of 0.86. The firm’s 50-day moving average price is $43.61 and its 200 day moving average price is $48.09.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.25. Toronto-Dominion Bank had a return on equity of 13.24% and a net margin of 18.30%. The company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the firm earned $1.75 EPS. Toronto-Dominion Bank’s revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts predict that Toronto-Dominion Bank will post 3.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be given a $0.567 dividend. The ex-dividend date is Thursday, July 9th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 5.09%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 44.73%.
About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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