Toronto-Dominion Bank (TD) Receives Average Recommendation of “Buy” from Analysts

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $83.33.

TD has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. TheStreet raised shares of Toronto-Dominion Bank from a “c+” rating to a “b” rating in a research note on Tuesday, September 4th. Finally, ValuEngine downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Wednesday.

Shares of TD traded down $0.11 during midday trading on Thursday, hitting $55.88. The stock had a trading volume of 962,235 shares, compared to its average volume of 1,272,571. Toronto-Dominion Bank has a 1 year low of $54.37 and a 1 year high of $62.00. The company has a market cap of $102.39 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.98 and a beta of 1.01. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 30th. The bank reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.43. Toronto-Dominion Bank had a net margin of 21.82% and a return on equity of 16.63%. The business had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. Analysts predict that Toronto-Dominion Bank will post 4.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th were paid a $0.5144 dividend. This represents a $2.06 annualized dividend and a yield of 3.68%. The ex-dividend date was Tuesday, October 9th. Toronto-Dominion Bank’s dividend payout ratio is presently 49.06%.

Hedge funds have recently bought and sold shares of the stock. Eagle Ridge Investment Management increased its position in Toronto-Dominion Bank by 1.1% during the 2nd quarter. Eagle Ridge Investment Management now owns 84,855 shares of the bank’s stock valued at $4,910,000 after purchasing an additional 897 shares during the period. Penobscot Investment Management Company Inc. increased its position in Toronto-Dominion Bank by 4.0% during the 3rd quarter. Penobscot Investment Management Company Inc. now owns 23,624 shares of the bank’s stock valued at $1,436,000 after purchasing an additional 900 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Toronto-Dominion Bank by 1.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 68,537 shares of the bank’s stock valued at $4,167,000 after purchasing an additional 992 shares during the period. First Manhattan Co. increased its position in Toronto-Dominion Bank by 106.9% during the 3rd quarter. First Manhattan Co. now owns 1,970 shares of the bank’s stock valued at $119,000 after purchasing an additional 1,018 shares during the period. Finally, Riverhead Capital Management LLC increased its position in Toronto-Dominion Bank by 14.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,127 shares of the bank’s stock valued at $528,000 after purchasing an additional 1,127 shares during the period. 47.54% of the stock is currently owned by institutional investors.

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. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large 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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Analyst Recommendations for Toronto-Dominion Bank (NYSE:TD)

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