The Toronto-Dominion Bank (NYSE:TD) Given Consensus Rating of “Hold” by Brokerages

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $84.00.

TD has been the topic of several research reports. Cibc World Mkts upgraded Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. BMO Capital Markets decreased their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, May 24th. UBS Group initiated coverage on Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD opened at $60.36 on Monday. The company has a market capitalization of $105.53 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.73 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day moving average price is $57.85 and its 200 day moving average price is $57.70. Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts predict 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. Stockholders of record on Thursday, October 10th will be paid a $0.739 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.90%. Toronto-Dominion Bank’s payout ratio is presently 67.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TD. Canoe Financial LP boosted its holdings in Toronto-Dominion Bank by 2,035.4% in the fourth quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock valued at $2,766,281,000 after purchasing an additional 40,803,711 shares during the period. Norges Bank purchased a new stake in Toronto-Dominion Bank during the 4th quarter worth about $1,478,898,000. TD Asset Management Inc lifted its holdings in Toronto-Dominion Bank by 28.9% during the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock worth $3,017,384,000 after buying an additional 10,415,591 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Toronto-Dominion Bank during the 4th quarter worth about $184,389,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Toronto-Dominion Bank by 61.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after buying an additional 2,215,185 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

About Toronto-Dominion Bank

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.