Canaccord Genuity Begins Coverage on Toronto Dominion Bank (The) (TD)

Canaccord Genuity started coverage on shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in a research note released on Tuesday, July 18th, Marketbeat Ratings reports. The firm issued a buy rating on the bank’s stock.

A number of other equities research analysts have also recently commented on the stock. BidaskClub upgraded shares of Toronto Dominion Bank (The) from a hold rating to a buy rating in a research report on Sunday, July 16th. Zacks Investment Research raised shares of Toronto Dominion Bank (The) from a sell rating to a hold rating in a report on Thursday, June 1st. Royal Bank Of Canada upped their price objective on shares of Toronto Dominion Bank (The) from $68.00 to $70.00 and gave the company a sector perform rating in a report on Friday, May 26th. Barclays PLC raised shares of Toronto Dominion Bank (The) from an underweight rating to an equal weight rating in a report on Tuesday, May 23rd. Finally, National Bank Financial reissued a sector perform overweight rating on shares of Toronto Dominion Bank (The) in a report on Thursday, May 18th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $61.71.

Toronto Dominion Bank (TD) traded up 0.10% during mid-day trading on Tuesday, reaching $50.11. 920,400 shares of the company’s stock traded hands. Toronto Dominion Bank has a one year low of $43.09 and a one year high of $54.44. The firm has a market cap of $92.37 billion, a price-to-earnings ratio of 12.42 and a beta of 0.89. The firm’s 50-day moving average price is $50.92 and its 200 day moving average price is $49.85.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 25th. The bank reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.08. The business had revenue of $8.47 billion during the quarter, compared to analysts’ expectations of $8.72 billion. Toronto Dominion Bank (The) had a net margin of 22.56% and a return on equity of 14.09%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 earnings per share. On average, equities analysts forecast that Toronto Dominion Bank will post $4.19 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 10th were paid a $0.444 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Thursday, July 6th. Toronto Dominion Bank (The)’s payout ratio is 48.18%.

Hedge funds have recently modified their holdings of the stock. Public Sector Pension investment Board boosted its stake in shares of Toronto Dominion Bank (The) by 1,745.0% in the second quarter. Public Sector Pension investment Board now owns 3,658,692 shares of the bank’s stock valued at $184,104,000 after buying an additional 3,881,100 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Toronto Dominion Bank (The) by 3,364.0% in the second quarter. Canada Pension Plan Investment Board now owns 2,899,388 shares of the bank’s stock valued at $145,896,000 after buying an additional 2,815,688 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Toronto Dominion Bank (The) by 46.1% in the first quarter. Acadian Asset Management LLC now owns 6,676,336 shares of the bank’s stock valued at $333,462,000 after buying an additional 2,106,791 shares during the period. Vanguard Group Inc. boosted its stake in shares of Toronto Dominion Bank (The) by 5.1% in the second quarter. Vanguard Group Inc. now owns 41,532,070 shares of the bank’s stock valued at $2,092,385,000 after buying an additional 2,014,823 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Toronto Dominion Bank (The) by 49.0% in the second quarter. APG Asset Management N.V. now owns 4,140,236 shares of the bank’s stock valued at $270,564,000 after buying an additional 1,361,503 shares during the period. 52.41% of the stock is currently owned by hedge funds and other institutional investors.

About Toronto Dominion Bank (The)

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

Analyst Recommendations for Toronto Dominion Bank (The) (NYSE:TD)

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