Toronto-Dominion Bank (NYSE: TD) Receives Consensus “Hold” Recommendation From Brokerages
Shares of Toronto-Dominion Bank (NYSE: TD – Get Rating) (TSE: TD) received an average recommendation of “Hold” by the fourteen research firms that currently cover the company, Marketbeat reports. One research analyst rated the stock with a sell rating, six assigned a hold rating and four assigned the company a buy rating. The 12-month average target price among brokerages that have reported on the stock over the past year is $100.92.
TD has been the subject of several recent research reports. Stifel Nicolaus lowered his price target on The Toronto-Dominion Bank from C$105.00 to C$104.00 in a Friday, April 8 research report. CIBC downgraded the Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a Monday, April 11 research report. Scotiabank lowered its price target on The Toronto-Dominion Bank from C$116.00 to C$105.00 in a research report on Wednesday. Desjardins raised its price target on The Toronto-Dominion Bank from C$110.00 to C$113.00 in a Monday, March 7 research report. Finally, StockNews.com launched coverage on the Toronto-Dominion Bank in a research report on Thursday, March 31. They set a “holding” rating for the company.
TD stock traded down $0.19 on Monday, hitting $74.50. The company’s stock had a trading volume of 2,136,664 shares, compared to its average volume of 2,104,754. The company has a fifty-day simple moving average of $79.99 and a simple moving average on two hundred days of $76.66. The Toronto-Dominion Bank has a 12-month low of $62.81 and a 12-month high of $86.01. The company has a market capitalization of $134.50 billion, a PE ratio of 11.71, a PEG ratio of 1.42 and a beta of 0.96. The company has a debt ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94.
The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last reported quarterly results on Thursday, March 3. The bank reported EPS of $2.08 for the quarter, beating analysts’ consensus estimate of $2.05 by $0.03. The company posted revenue of $11.28 billion in the quarter, versus analyst estimates of $10.28 billion. The Toronto-Dominion Bank posted a return on equity of 16.18% and a net margin of 30.57%. The company’s revenue increased 4.3% year-over-year. In the same quarter last year, the company posted earnings per share of $1.42. As a group, research analysts expect The Toronto-Dominion Bank to post earnings per share of 6.39 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, April 30. Investors of record on Friday, April 8 will receive a dividend of $0.702. This represents an annualized dividend of $2.81 and a yield of 3.77%. This is an increase from the Toronto-Dominion Bank’s previous quarterly dividend of $0.70. The ex-date of this dividend is Thursday, April 7. The Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 44.81%.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Columbia Trust Co 01012016 increased its stake in Toronto-Dominion Bank shares by 19.9% during the 1st quarter. Columbia Trust Co 01012016 now owns 4,369 shares of the bank valued at $325,000 after purchasing an additional 725 shares during the period. Wealthcare Advisory Partners LLC increased its stake in Toronto-Dominion Bank shares by 3.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,286 shares of the bank valued at $340,000 after purchasing an additional 136 shares during the period. Ritholtz Wealth Management increased its stake in Toronto-Dominion Bank shares by 15.8% during the 1st quarter. Ritholtz Wealth Management now owns 26,329 shares of the bank valued at $2,091,000 after purchasing an additional 3,602 shares during the period. AdvisorNet Financial Inc. increased its stake in Toronto-Dominion Bank shares by 55.6% during the 1st quarter. AdvisorNet Financial Inc. now owns 557 shares of the bank valued at $44,000 after purchasing an additional 199 shares during the period. Finally, Addenda Capital Inc. increased its holding in Toronto-Dominion Bank shares by 0.8% during the 1st quarter. Addenda Capital Inc. now owns 2,022,279 shares of the bank valued at $200,590,000 after purchasing an additional 15,400 shares during the period. Institutional investors hold 48.46% of the company’s shares.
Corporate Profile Toronto-Dominion Bank (Get an evaluation)
The Toronto-Dominion Bank, together with its subsidiaries, offers various financial products and services in Canada, the United States and abroad. It operates through three segments: Retail Banking in Canada, United States and Wholesale. The company offers personal deposits, such as checking, savings and investment products; financing, investment, cash management, international trade and day-to-day corporate banking; and point-of-sale customer financing options for the purchase of automobiles and recreational vehicles.
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