Analysts Set The Toronto-Dominion Bank (NYSE:TD) Target Price at $84.00

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have earned a consensus rating of “Hold” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $84.00.

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

Hedge Funds Weigh In On Toronto-Dominion Bank

Several hedge funds have recently made changes to their positions in the business. Sei Investments Co. raised its stake in Toronto-Dominion Bank by 40.4% in the first quarter. Sei Investments Co. now owns 176,584 shares of the bank’s stock worth $10,662,000 after buying an additional 50,850 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Toronto-Dominion Bank by 7.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 13,918 shares of the bank’s stock worth $840,000 after buying an additional 919 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Toronto-Dominion Bank by 3.4% during the first quarter. Bleakley Financial Group LLC now owns 7,314 shares of the bank’s stock valued at $442,000 after purchasing an additional 241 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Toronto-Dominion Bank by 100.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 193,514 shares of the bank’s stock worth $11,683,000 after buying an additional 96,900 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Toronto-Dominion Bank during the 1st quarter valued at about $6,454,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Up 0.6 %

Toronto-Dominion Bank stock opened at $56.27 on Friday. The firm has a market capitalization of $98.39 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.59 and a beta of 0.82. The firm has a 50 day simple moving average of $59.36 and a 200 day simple moving average of $57.72. Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates 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 was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, analysts predict that Toronto-Dominion Bank will post 5.8 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

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

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.