The Toronto-Dominion Bank (NYSE:TD) Given Consensus Rating of “Hold” by Analysts

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $80.50.

TD has been the topic of several recent research reports. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $59.89 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $56.78 and its 200-day moving average price is $57.64. The firm has a market capitalization of $104.94 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.95 and a beta of 0.84. Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a $0.7278 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 annualized dividend and a yield of 4.86%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 83.86%.

Institutional Trading of Toronto-Dominion Bank

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Toronto-Dominion Bank in the fourth quarter worth $992,204,000. FIL Ltd raised its stake in shares of Toronto-Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after purchasing an additional 5,756,584 shares during the period. The Manufacturers Life Insurance Company grew its position 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 period. Geode Capital Management LLC increased its holdings in Toronto-Dominion Bank by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank’s stock worth $569,878,000 after buying an additional 2,564,648 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised 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 acquiring an additional 2,279,864 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.