Toronto–Dominion Bank (TD) Receives Consensus Recommendation of “Buy” from Brokerages

Toronto–Dominion Bank (NYSE:TD) (TSE:TD) has been given a consensus recommendation of “Buy” by the thirteen ratings firms that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $80.00.

Several equities research analysts have recently issued reports on TD shares. Zacks Investment Research upgraded Toronto–Dominion Bank from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Bank of America lifted their price target on Toronto–Dominion Bank from $71.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. CIBC upgraded Toronto–Dominion Bank from a “neutral” rating to an “outperform” rating in a report on Thursday, February 1st. Finally, Desjardins upgraded Toronto–Dominion Bank from a “hold” rating to a “buy” rating in a report on Friday, March 2nd.

Shares of Toronto–Dominion Bank stock traded up $0.16 during trading on Friday, hitting $55.04. 1,217,509 shares of the stock traded hands, compared to its average volume of 1,397,808. The firm has a market cap of $101,558.44, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.93. Toronto–Dominion Bank has a twelve month low of $45.18 and a twelve month high of $61.06.

Toronto–Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, March 1st. The bank reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The business had revenue of $9.36 billion during the quarter, compared to analyst estimates of $8.96 billion. Toronto–Dominion Bank had a return on equity of 15.76% and a net margin of 22.12%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 EPS. equities research analysts predict that Toronto–Dominion Bank will post 4.84 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Tuesday, April 10th will be paid a $0.522 dividend. This represents a $2.09 dividend on an annualized basis and a dividend yield of 3.79%. This is an increase from Toronto–Dominion Bank’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, April 9th. Toronto–Dominion Bank’s dividend payout ratio (DPR) is presently 49.06%.

Several hedge funds have recently modified their holdings of the stock. Icon Wealth Partners LLC bought a new position in Toronto–Dominion Bank in the 4th quarter worth approximately $102,000. Calton & Associates Inc. bought a new stake in shares of Toronto–Dominion Bank during the fourth quarter valued at approximately $141,000. Financial Gravity Companies Inc. bought a new stake in shares of Toronto–Dominion Bank during the fourth quarter valued at approximately $176,000. Buckingham Asset Management LLC bought a new stake in shares of Toronto–Dominion Bank during the fourth quarter valued at approximately $204,000. Finally, Investment Partners Ltd. OH ADV bought a new stake in shares of Toronto–Dominion Bank during the fourth quarter valued at approximately $206,000. 48.74% of the stock is currently owned by institutional investors and hedge funds.

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Toronto–Dominion Bank Company Profile

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.

Analyst Recommendations for Toronto–Dominion Bank (NYSE:TD)

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