Shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been given an average recommendation of “Buy” by the nine research firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $73.50.
A number of equities analysts have recently weighed in on TD shares. Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a report on Thursday, May 23rd. National Bank Financial downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 23rd. Barclays upgraded Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 target price on the stock in a report on Tuesday, June 11th. Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Friday. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Toronto-Dominion Bank in a report on Friday, May 24th.
NYSE TD traded down $0.20 on Friday, hitting $56.50. 773,162 shares of the company were exchanged, compared to its average volume of 1,037,314. The company’s 50 day moving average price is $58.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.11. The company has a market cap of $102.26 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 1.77 and a beta of 1.04. Toronto-Dominion Bank has a twelve month low of $47.73 and a twelve month high of $62.00.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were issued a $0.5511 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.20 dividend on an annualized basis and a yield of 3.90%. Toronto-Dominion Bank’s dividend payout ratio is currently 44.93%.
Large investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI acquired a new position in Toronto-Dominion Bank in the first quarter worth approximately $28,000. Financial Gravity Wealth Inc. bought a new stake in Toronto-Dominion Bank during the first quarter worth approximately $29,000. Farmers National Bank bought a new stake in Toronto-Dominion Bank during the first quarter worth approximately $33,000. Manchester Capital Management LLC bought a new stake in Toronto-Dominion Bank during the first quarter worth approximately $37,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Toronto-Dominion Bank during the first quarter worth approximately $46,000. Hedge funds and other institutional investors own 48.04% of the company’s stock.
About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to 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.
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