The Toronto-Dominion Bank (NYSE:TD) Given Average Recommendation of “Hold” by Analysts

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been assigned an average rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $84.00.

Several equities analysts recently issued reports on TD shares. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. UBS Group initiated coverage on Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd.

Toronto-Dominion Bank Trading Up 0.2 %

Shares of TD stock opened at $63.27 on Friday. Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a market cap of $110.56 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.85 and a beta of 0.81. The stock has a 50-day moving average of $60.20 and a 200-day moving average of $58.09.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, equities research analysts forecast that Toronto-Dominion Bank will post 5.84 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a yield of 4.67%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 68.64%.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of institutional investors have recently modified their holdings of TD. Mather Group LLC. acquired a new stake in shares of Toronto-Dominion Bank in the 1st quarter worth about $29,000. LifeSteps Financial Inc. bought a new position in shares of Toronto-Dominion Bank in the first quarter valued at approximately $30,000. Triad Wealth Partners LLC bought a new position in shares of Toronto-Dominion Bank in the second quarter valued at approximately $31,000. Blue Trust Inc. boosted its position in shares of Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after buying an additional 212 shares during the last quarter. Finally, Optiver Holding B.V. bought a new stake in Toronto-Dominion Bank during the fourth quarter worth $39,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.