Dundee Securities initiated coverage on shares of The Toronto-Dominion Bank (NYSE:TD) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.
Several other research firms have also recently commented on TD. Canaccord Genuity reiterated a “buy” rating and set a $23.00 target price on shares of The Toronto-Dominion Bank in a research note on Wednesday, June 8th. Zacks Investment Research upgraded shares of The Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, August 30th. TD Securities reiterated a “buy” rating and set a $64.00 target price (up from $61.00) on shares of The Toronto-Dominion Bank in a research note on Monday, August 29th. CIBC cut shares of The Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, August 26th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of The Toronto-Dominion Bank in a research note on Friday, May 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $56.88.
The Toronto-Dominion Bank (NYSE:TD) opened at 44.60 on Wednesday. The firm has a market capitalization of $82.72 billion, a price-to-earnings ratio of 13.25 and a beta of 0.98. The firm’s 50-day moving average is $44.19 and its 200-day moving average is $43.44. The Toronto-Dominion Bank has a 1-year low of $33.49 and a 1-year high of $45.98.
The Toronto-Dominion Bank (NYSE:TD) last released its earnings results on Thursday, August 25th. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.06. The firm earned $8.70 billion during the quarter. The Toronto-Dominion Bank had a net margin of 21.02% and a return on equity of 13.56%. The Toronto-Dominion Bank’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 earnings per share. On average, equities analysts anticipate that The Toronto-Dominion Bank will post $3.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 7th will be issued a dividend of $0.4249 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.70 dividend on an annualized basis and a yield of 3.81%. This is a positive change from The Toronto-Dominion Bank’s previous quarterly dividend of $0.42. The Toronto-Dominion Bank’s dividend payout ratio is currently 50.45%.
A number of large investors have recently modified their holdings of TD. First New York Securities LLC NY bought a new stake in shares of The Toronto-Dominion Bank during the second quarter worth approximately $107,000. Zions Bancorporation raised its stake in shares of The Toronto-Dominion Bank by 282.5% in the first quarter. Zions Bancorporation now owns 2,639 shares of the company’s stock worth $115,000 after buying an additional 1,949 shares in the last quarter. Cribstone Capital Management LLC bought a new stake in shares of The Toronto-Dominion Bank during the second quarter worth approximately $118,000. Teachers Advisors Inc. raised its stake in shares of The Toronto-Dominion Bank by 993.0% in the second quarter. Teachers Advisors Inc. now owns 2,820 shares of the company’s stock worth $121,000 after buying an additional 2,562 shares in the last quarter. Finally, AHL Partners LLP bought a new stake in shares of The Toronto-Dominion Bank during the second quarter worth approximately $201,000. 51.77% of the stock is currently owned by hedge funds and other institutional investors.
About The Toronto-Dominion Bank
The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank conducts its business through segments, such as Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses, including credit cards, auto finance, wealth and insurance businesses.
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