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

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have received a consensus recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $89.33.

Several research firms recently issued reports on TD. Barclays initiated coverage on Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Jefferies Financial Group initiated coverage on shares of Toronto-Dominion Bank in a report on Thursday, February 22nd. They set a “hold” rating on the stock. Finally, Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th.

Toronto-Dominion Bank Price Performance

TD opened at $54.66 on Tuesday. Toronto-Dominion Bank has a 12-month low of $54.12 and a 12-month high of $66.15. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $59.16 and a 200-day moving average price of $60.03. The stock has a market capitalization of $96.38 billion, a P/E ratio of 11.68, a PEG ratio of 1.81 and a beta of 0.85.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. The company had revenue of $10.07 billion during the quarter, compared to analyst estimates of $9.35 billion. Equities analysts predict that Toronto-Dominion Bank will post 5.79 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th were paid a $0.7519 dividend. The ex-dividend date was Monday, April 8th. This represents a $3.01 annualized dividend and a dividend yield of 5.50%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. Toronto-Dominion Bank’s payout ratio is currently 30.56%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Clarius Group LLC grew its holdings in shares of Toronto-Dominion Bank by 24.9% in the third quarter. Clarius Group LLC now owns 4,098 shares of the bank’s stock worth $247,000 after acquiring an additional 817 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of Toronto-Dominion Bank by 6.8% in the third quarter. Valeo Financial Advisors LLC now owns 3,821 shares of the bank’s stock worth $230,000 after buying an additional 243 shares during the period. PDS Planning Inc boosted its position in shares of Toronto-Dominion Bank by 18.3% in the third quarter. PDS Planning Inc now owns 5,978 shares of the bank’s stock worth $360,000 after purchasing an additional 924 shares during the period. Commonwealth Equity Services LLC increased its stake in Toronto-Dominion Bank by 2.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 128,853 shares of the bank’s stock worth $7,765,000 after buying an additional 3,179 shares in the last quarter. Finally, Galibier Capital Management Ltd. purchased a new position in shares of Toronto-Dominion Bank in the third quarter valued at about $27,973,000. 52.37% of the stock is 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.