Toronto Dominion Bank (The) (NYSE:TD) Stock Has Average Target Price of $148.00 According to Analysts

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $148.00.

Several analysts recently issued reports on TD shares. Weiss Ratings upgraded shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, September 28th. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Keefe, Bruyette & Woods started coverage on Toronto Dominion Bank in a report on Friday, August 21st. They set a “market perform” rating for the company.

Toronto Dominion Bank Stock Performance

NYSE TD opened at $124.68 on Friday. The firm has a 50-day moving average price of $119.93 and a two-hundred day moving average price of $115.85. Toronto Dominion Bank has a 12-month low of $79.52 and a 12-month high of $125.46. The company has a market capitalization of $205.07 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.21 and a beta of 0.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.24. The firm had revenue of $12.07 billion during the quarter, compared to the consensus estimate of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 EPS. Analysts anticipate that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be paid a C$1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, October 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 46.81%.

Institutional Investors Weigh In On Toronto Dominion Bank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in Toronto Dominion Bank by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,565,982 shares of the bank’s stock worth $705,950,000 after purchasing an additional 589,316 shares in the last quarter. Bank of America Corp DE boosted its position in Toronto Dominion Bank by 7.8% in the first quarter. Bank of America Corp DE now owns 4,967,545 shares of the bank’s stock valued at $463,522,000 after buying an additional 358,412 shares in the last quarter. Auto Owners Insurance Co grew its stake in shares of Toronto Dominion Bank by 9,320.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock worth $396,544,000 after buying an additional 3,923,347 shares during the last quarter. Alberta Investment Management Corp grew its stake in shares of Toronto Dominion Bank by 31.0% during the fourth quarter. Alberta Investment Management Corp now owns 3,181,800 shares of the bank’s stock worth $299,850,000 after buying an additional 753,300 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Toronto Dominion Bank during the second quarter worth $202,900,000. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.