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

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have received an average recommendation of “Hold” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $84.00.

TD has been the subject of several recent research reports. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating for the company. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd.

Institutional Trading of Toronto-Dominion Bank

Large investors have recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in Toronto-Dominion Bank during the first quarter worth about $29,000. Triad Wealth Partners LLC bought a new stake in shares of Toronto-Dominion Bank during the second quarter valued at approximately $31,000. Blue Trust Inc. grew its stake in shares of Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after purchasing an additional 212 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Toronto-Dominion Bank during the second quarter valued at approximately $49,000. Finally, BOKF NA grew its stake in shares of Toronto-Dominion Bank by 203.6% during the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after purchasing an additional 680 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Stock Down 0.9 %

Shares of TD opened at $56.34 on Tuesday. The company has a 50-day simple moving average of $60.52 and a 200-day simple moving average of $57.95. The firm has a market capitalization of $98.45 billion, a P/E ratio of 12.80, a P/E/G ratio of 1.68 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The firm had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Toronto-Dominion Bank will post 5.82 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.739 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 5.25%. Toronto-Dominion Bank’s dividend payout ratio is 68.41%.

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.