Shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have earned an average rating of “Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $74.67.
TD has been the subject of a number of research analyst reports. National Bank Financial lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note 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 for the company in a research note on Tuesday, June 11th. BMO Capital Markets reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research note on Friday, May 24th. Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, May 23rd. Finally, Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Friday, August 9th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Toronto-Dominion Bank by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 52,502,160 shares of the bank’s stock valued at $3,064,025,000 after acquiring an additional 1,293,179 shares during the period. TD Asset Management Inc. grew its position in shares of Toronto-Dominion Bank by 2.4% during the 1st quarter. TD Asset Management Inc. now owns 48,855,643 shares of the bank’s stock valued at $2,652,053,000 after acquiring an additional 1,157,886 shares during the period. Beutel Goodman & Co Ltd. grew its position in shares of Toronto-Dominion Bank by 99.5% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 45,627,230 shares of the bank’s stock valued at $2,570,815,000 after acquiring an additional 22,761,407 shares during the period. CIBC Asset Management Inc grew its position in shares of Toronto-Dominion Bank by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 22,140,824 shares of the bank’s stock valued at $1,292,138,000 after acquiring an additional 630,188 shares during the period. Finally, Toronto Dominion Bank grew its position in shares of Toronto-Dominion Bank by 48.9% during the 1st quarter. Toronto Dominion Bank now owns 16,443,402 shares of the bank’s stock valued at $892,223,000 after acquiring an additional 5,402,536 shares during the period. Institutional investors and hedge funds own 48.12% of the company’s stock.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 23rd. The bank reported $1.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.50. The company had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.46 billion. Toronto-Dominion Bank had a return on equity of 16.21% and a net margin of 20.24%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. On average, sell-side analysts predict that Toronto-Dominion Bank will post 5.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.5511 per share. The ex-dividend date was Tuesday, July 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.04%. Toronto-Dominion Bank’s payout ratio is currently 44.93%.
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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