Toronto-Dominion Bank (NYSE:TD) Lowered to Hold Rating by Jefferies Financial Group

Jefferies Financial Group cut shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a buy rating to a hold rating in a report published on Tuesday morning, Marketbeat.com reports.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada decreased their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note 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. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. StockNews.com raised Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock opened at $59.96 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day simple moving average is $55.50 and its two-hundred day simple moving average is $57.45. The stock has a market capitalization of $104.95 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were paid a $0.7482 dividend. This represents a $2.99 annualized dividend and a yield of 4.99%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date was Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 84.15%.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after purchasing an additional 1,415,934 shares during the period. FIL Ltd boosted its holdings in Toronto-Dominion Bank by 17.3% in the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after acquiring an additional 5,756,584 shares in the last quarter. Norges Bank bought a new stake in Toronto-Dominion Bank in the fourth quarter worth $992,204,000. Beutel Goodman & Co Ltd. boosted its holdings in Toronto-Dominion Bank by 3.8% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock worth $894,169,000 after acquiring an additional 622,736 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Toronto-Dominion Bank by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank’s stock worth $882,241,000 after acquiring an additional 59,956 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.