Brokerages Set Toronto Dominion Bank (The) (NYSE:TD) PT at $93.00

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $93.00.

A number of equities analysts have weighed in on TD shares. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Raymond James Financial upgraded Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, January 21st. Finally, Zacks Research upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th.

Toronto Dominion Bank Stock Performance

Shares of TD stock traded up $0.32 during trading hours on Friday, hitting $94.35. The company’s stock had a trading volume of 180,096 shares, compared to its average volume of 2,410,976. The company has a 50 day moving average of $95.50 and a 200 day moving average of $86.96. The stock has a market cap of $157.68 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 1.09 and a beta of 0.66. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $54.87 and a 12-month high of $99.84.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.13. The firm had revenue of $11.01 billion during the quarter, compared to analysts’ expectations of $10.43 billion. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.02 earnings per share. On average, sell-side analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 9th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a yield of 4.6%. Toronto Dominion Bank’s dividend payout ratio is 34.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bayban purchased a new stake in shares of Toronto Dominion Bank during the 4th quarter worth about $28,000. Harvest Fund Management Co. Ltd raised its holdings in Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after purchasing an additional 168 shares during the period. True Wealth Design LLC acquired a new position in Toronto Dominion Bank in the 3rd quarter worth about $27,000. CBIZ Investment Advisory Services LLC purchased a new position in Toronto Dominion Bank during the fourth quarter worth approximately $34,000. Finally, Mather Group LLC. acquired a new stake in Toronto Dominion Bank in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.