Toronto Dominion Bank (The) (TD) Receives Average Rating of “Buy” from Brokerages

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) have been assigned an average recommendation of “Buy” from the ten analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $77.67.

Several research firms recently weighed in on TD. Canaccord Genuity reiterated a “buy” rating and set a $80.00 target price on shares of Toronto Dominion Bank in a research report on Thursday, November 30th. Zacks Investment Research downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Monday, August 21st. Howard Weil upgraded Toronto Dominion Bank to an “outperform” rating in a research report on Monday, August 21st. Finally, Bank of America restated a “buy” rating on shares of Toronto Dominion Bank in a research report on Friday, September 1st.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Toronto Dominion Bank by 5.1% in the second quarter. Vanguard Group Inc. now owns 41,532,070 shares of the bank’s stock valued at $2,092,385,000 after acquiring an additional 2,014,823 shares in the last quarter. Jarislowsky Fraser Ltd lifted its position in shares of Toronto Dominion Bank by 0.6% in the third quarter. Jarislowsky Fraser Ltd now owns 25,541,085 shares of the bank’s stock valued at $1,434,663,000 after acquiring an additional 142,815 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Toronto Dominion Bank by 9.0% in the third quarter. Great West Life Assurance Co. Can now owns 18,089,766 shares of the bank’s stock valued at $1,016,362,000 after acquiring an additional 1,496,114 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Toronto Dominion Bank by 0.6% in the third quarter. CIBC Asset Management Inc now owns 11,510,442 shares of the bank’s stock valued at $646,340,000 after acquiring an additional 69,805 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Toronto Dominion Bank by 18.9% in the third quarter. Schroder Investment Management Group now owns 7,909,119 shares of the bank’s stock valued at $555,292,000 after acquiring an additional 1,256,500 shares in the last quarter. Institutional investors and hedge funds own 48.82% of the company’s stock.

Toronto Dominion Bank (NYSE:TD) traded up $0.55 during midday trading on Monday, reaching $56.34. The company had a trading volume of 859,944 shares, compared to its average volume of 1,464,671. The stock has a market capitalization of $102,791.40, a P/E ratio of 13.19, a PEG ratio of 1.51 and a beta of 0.88. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. Toronto Dominion Bank has a 12 month low of $45.18 and a 12 month high of $58.76.

Toronto Dominion Bank declared that its Board of Directors has approved a stock buyback plan on Thursday, August 31st that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be given a $0.466 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.86 annualized dividend and a dividend yield of 3.31%. Toronto Dominion Bank’s payout ratio is 44.18%.

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About Toronto Dominion Bank

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 (NYSE:TD)

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