Brokerages Set Toronto Dominion Bank (The) (TD) Target Price at $66.33

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have been assigned a consensus rating of “Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $66.33.

Several equities research analysts recently commented on the stock. Macquarie assumed coverage on shares of Toronto Dominion Bank (The) in a research report on Tuesday, October 24th. They set an “outperform” rating on the stock. National Bank Financial upgraded shares of Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 1st. Canaccord Genuity assumed coverage on shares of Toronto Dominion Bank (The) in a research report on Tuesday, July 18th. They set a “buy” rating on the stock. BidaskClub upgraded shares of Toronto Dominion Bank (The) from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research downgraded shares of Toronto Dominion Bank (The) from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th.

A number of institutional investors have recently added to or reduced their stakes in the business. Omnia Family Wealth LLC raised its holdings in Toronto Dominion Bank (The) by 0.4% during the 2nd quarter. Omnia Family Wealth LLC now owns 5,615 shares of the bank’s stock worth $283,000 after purchasing an additional 24 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Toronto Dominion Bank (The) by 0.8% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,181 shares of the bank’s stock worth $319,000 after purchasing an additional 47 shares during the last quarter. Johanson Financial Advisors Inc. raised its holdings in Toronto Dominion Bank (The) by 0.8% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,841 shares of the bank’s stock worth $394,000 after purchasing an additional 66 shares during the last quarter. Teachers Advisors LLC raised its holdings in Toronto Dominion Bank (The) by 3.7% during the 2nd quarter. Teachers Advisors LLC now owns 2,556 shares of the bank’s stock worth $129,000 after purchasing an additional 92 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its holdings in Toronto Dominion Bank (The) by 5.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,319 shares of the bank’s stock worth $117,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 47.74% of the company’s stock.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Toronto Dominion Bank (The) had a net margin of 22.85% and a return on equity of 14.71%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.05 billion. During the same period last year, the company posted $1.27 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year.

Toronto Dominion Bank (The) declared that its board has initiated a stock repurchase program on Thursday, August 31st that permits the company to buyback 20,000,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were issued a dividend of $0.475 per share. This is a positive change from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.90 annualized dividend and a yield of 3.34%. Toronto Dominion Bank (The)’s dividend payout ratio (DPR) is presently 47.62%.

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Toronto Dominion Bank (The) Company Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

Analyst Recommendations for Toronto Dominion Bank (The) (NYSE:TD)

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