Brokerages Set The Toronto-Dominion Bank (NYSE:TD) Target Price at $80.50

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have earned an average rating of “Hold” from the ten brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $80.50.

Several equities analysts recently weighed in on TD shares. Royal Bank of Canada cut their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Jefferies Financial Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Finally, Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $57.15 on Thursday. The firm has a market cap of $100.05 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.83 and a beta of 0.83. Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $54.70 and a 200 day moving average price of $57.41.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were issued a dividend of $0.7482 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend was Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 84.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC lifted its position in Toronto-Dominion Bank by 2.4% during the 3rd quarter. CWM LLC now owns 7,208 shares of the bank’s stock worth $456,000 after buying an additional 170 shares in the last quarter. Pathstone Holdings LLC raised its holdings in Toronto-Dominion Bank by 0.8% during the third quarter. Pathstone Holdings LLC now owns 22,309 shares of the bank’s stock worth $1,411,000 after acquiring an additional 184 shares in the last quarter. Passumpsic Savings Bank boosted its position in Toronto-Dominion Bank by 2.6% during the third quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank’s stock valued at $476,000 after purchasing an additional 194 shares during the last quarter. Versant Capital Management Inc grew its stake in Toronto-Dominion Bank by 40.0% in the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Finally, Cardinal Capital Management raised its stake in shares of Toronto-Dominion Bank by 0.5% during the 4th quarter. Cardinal Capital Management now owns 44,685 shares of the bank’s stock worth $2,379,000 after purchasing an additional 205 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Company Profile

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.