The Toronto-Dominion Bank (NYSE:TD) Receives Average Rating of “Hold” from Analysts

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has earned a consensus rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $80.50.

A number of brokerages have weighed in on TD. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Royal Bank of Canada reduced their price objective on 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. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Finally, Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

Hedge Funds Weigh In On Toronto-Dominion Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. Asahi Life Asset Management CO. LTD. bought a new position in Toronto-Dominion Bank during the fourth quarter worth about $416,000. Cerity Partners LLC lifted its holdings in shares of Toronto-Dominion Bank by 57.1% during the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock valued at $1,693,000 after purchasing an additional 9,725 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Toronto-Dominion Bank by 61.1% during the 3rd 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 in the last quarter. FMR LLC raised its holdings in Toronto-Dominion Bank by 9.9% during the 3rd quarter. FMR LLC now owns 6,553,761 shares of the bank’s stock worth $414,417,000 after buying an additional 587,947 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after buying an additional 1,415,934 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

Shares of NYSE:TD opened at $61.00 on Friday. The business has a fifty day moving average of $58.94 and a 200-day moving average of $57.67. The firm has a market cap of $106.89 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be issued 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 4.77%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 85.29%.

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.