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

Shares of The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD have been assigned an average recommendation of "Hold" from the ten research firms that are currently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $84.00.

Several research analysts have weighed in on TD shares. StockNews.com downgraded shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research report on Thursday, August 22nd. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an "outperform" rating to a "sector perform" rating in a report on Friday, October 11th. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an "underperform" rating to a "sector perform" rating in a research report on Thursday, August 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TD. The Manufacturers Life Insurance Company boosted its stake in Toronto-Dominion Bank by 24.9% during the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank's stock valued at $854,815,000 after buying an additional 2,689,532 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Toronto-Dominion Bank by 61.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank's stock worth $380,118,000 after purchasing an additional 2,279,864 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Toronto-Dominion Bank by 61.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank's stock valued at $319,151,000 after purchasing an additional 2,215,185 shares in the last quarter. National Bank of Canada FI lifted its position in Toronto-Dominion Bank by 6.2% during the first quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank's stock valued at $1,677,917,000 after purchasing an additional 1,736,931 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Toronto-Dominion Bank by 175.5% in the 3rd quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank's stock worth $156,202,000 after buying an additional 1,571,700 shares in the last quarter. Institutional investors own 52.37% of the company's stock.

Toronto-Dominion Bank Stock Performance

TD stock traded down $0.69 on Friday, hitting $55.93. The company had a trading volume of 1,743,187 shares, compared to its average volume of 2,757,077. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The stock has a market cap of $97.79 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.59 and a beta of 0.82. The stock's 50-day simple moving average is $59.46 and its 200 day simple moving average is $57.75.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. Toronto-Dominion Bank's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Toronto-Dominion Bank will post 5.8 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a $0.739 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.29%. Toronto-Dominion Bank's dividend payout ratio is currently 96.17%.

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.