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

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) has been given an average rating of “Moderate Buy” by the nine ratings firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $93.00.

A number of research analysts have recently commented on TD shares. Zacks Research upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Monday, March 2nd. Weiss Ratings upgraded shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday, March 27th. Finally, Canadian Imperial Bank of Commerce cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of institutional investors have recently modified their holdings of TD. Vanguard Group Inc. lifted its position in Toronto Dominion Bank by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock worth $7,280,911,000 after acquiring an additional 765,107 shares during the period. TD Asset Management Inc increased its holdings in shares of Toronto Dominion Bank by 0.7% in the third quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock valued at $3,008,096,000 after purchasing an additional 246,999 shares during the period. Norges Bank acquired a new stake in shares of Toronto Dominion Bank in the 4th quarter worth $2,125,963,000. 1832 Asset Management L.P. raised its holdings in Toronto Dominion Bank by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank’s stock worth $1,656,213,000 after purchasing an additional 101,678 shares in the last quarter. Finally, Canerector Inc. lifted its position in Toronto Dominion Bank by 11,028.0% in the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock valued at $1,779,367,000 after purchasing an additional 22,056,000 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto Dominion Bank Trading Up 0.6%

NYSE TD opened at $95.24 on Tuesday. Toronto Dominion Bank has a 52 week low of $54.87 and a 52 week high of $99.84. The firm has a 50 day moving average of $95.34 and a two-hundred day moving average of $88.89. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $159.17 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.08 and a beta of 0.65.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The business had revenue of $11.01 billion for the quarter, compared to analyst estimates of $10.43 billion. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The company’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business earned $2.02 EPS. As a group, research analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto Dominion Bank’s dividend payout ratio is presently 34.81%.

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.