Brokerages Set The Toronto-Dominion Bank (NYSE:TD) PT at $84.00

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $84.00.

TD has been the topic of a number of research reports. UBS Group assumed coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $63.54 on Friday. The company’s fifty day moving average is $59.98 and its two-hundred day moving average is $58.02. The company has a market cap of $111.09 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.85 and a beta of 0.81. Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data 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. The firm had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.48 EPS. Equities analysts expect that Toronto-Dominion Bank will post 5.84 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 67.73%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several hedge funds have recently added to or reduced their stakes in TD. Mather Group LLC. bought a new position in Toronto-Dominion Bank during the first quarter worth about $29,000. LifeSteps Financial Inc. bought a new position in Toronto-Dominion Bank during the 1st quarter worth approximately $30,000. Triad Wealth Partners LLC acquired a new position in Toronto-Dominion Bank during the second quarter valued at approximately $31,000. Optiver Holding B.V. bought a new stake in Toronto-Dominion Bank in the fourth quarter valued at approximately $39,000. Finally, Blue Trust Inc. raised its holdings in Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after purchasing an additional 212 shares during the period. Institutional investors own 52.37% of the company’s stock.

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.