Brokerages Set The Toronto-Dominion Bank (NYSE:TD) PT at $84.00

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has earned an average recommendation of “Hold” from the ten brokerages that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $84.00.

Several analysts have issued reports on TD shares. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. Finally, National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd.

Institutional Trading of Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dunhill Financial LLC boosted its position in Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after acquiring an additional 249 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Toronto-Dominion Bank in the second quarter valued at about $31,000. Blue Trust Inc. boosted its stake in shares of Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after buying an additional 212 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Toronto-Dominion Bank during the 2nd quarter valued at $49,000. Finally, Morse Asset Management Inc bought a new stake in Toronto-Dominion Bank in the third quarter worth about $63,000. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $56.27 on Friday. 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 firm has a market capitalization of $98.39 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.59 and a beta of 0.82. The firm’s 50 day moving average is $59.36 and its 200-day moving average is $57.72. 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 announced its quarterly 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 for 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%. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company posted $1.48 EPS. Sell-side analysts forecast that Toronto-Dominion Bank will post 5.8 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 96.49%.

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.