Shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have earned a consensus recommendation of “Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $74.67.
A number of research firms have recently issued reports on TD. Canaccord Genuity restated a “buy” rating on shares of Toronto-Dominion Bank in a report on Thursday, May 23rd. Barclays upgraded Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 target price for the company in a report on Tuesday, June 11th. Bank of America lowered Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and reduced their target price for the company from $82.00 to $77.00 in a report on Thursday. Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Friday, August 9th. Finally, National Bank Financial lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 23rd.
Large investors have recently modified their holdings of the company. Cornerstone Advisors Inc. lifted its stake in shares of Toronto-Dominion Bank by 5.4% in the second quarter. Cornerstone Advisors Inc. now owns 3,746 shares of the bank’s stock valued at $219,000 after buying an additional 193 shares during the period. Mitchell Capital Management Co. lifted its stake in shares of Toronto-Dominion Bank by 3.4% in the first quarter. Mitchell Capital Management Co. now owns 6,500 shares of the bank’s stock valued at $353,000 after buying an additional 214 shares during the period. Compagnie Lombard Odier SCmA lifted its stake in shares of Toronto-Dominion Bank by 8.6% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,714 shares of the bank’s stock valued at $158,000 after buying an additional 214 shares during the period. Private Advisor Group LLC lifted its stake in shares of Toronto-Dominion Bank by 0.8% in the second quarter. Private Advisor Group LLC now owns 28,916 shares of the bank’s stock valued at $1,584,000 after buying an additional 220 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Toronto-Dominion Bank by 19.5% in the second quarter. BlackRock Inc. now owns 1,386 shares of the bank’s stock valued at $81,000 after buying an additional 226 shares during the period. 48.12% of the stock is currently owned by institutional investors.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 23rd. The bank reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.50. Toronto-Dominion Bank had a return on equity of 16.21% and a net margin of 20.24%. The company had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.46 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts predict that Toronto-Dominion Bank will post 5.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a $0.5511 dividend. This represents a $2.20 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio is currently 44.93%.
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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