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

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

A number of research firms recently weighed in on TD. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. 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. Finally, StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $59.96 on Friday. Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91. 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 stock has a fifty day simple moving average of $58.35 and a two-hundred day simple moving average of $57.64. The stock has a market capitalization of $105.07 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 1.95 and a beta of 0.83.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared 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. This represents a $2.91 annualized dividend and a yield of 4.85%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 85.29%.

Institutional Trading of Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently made changes to their positions in TD. Vanguard Group Inc. increased its position in Toronto-Dominion Bank by 1.9% during the 4th 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 in the last quarter. FIL Ltd grew its stake in shares of Toronto-Dominion Bank by 17.3% during 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 during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Toronto-Dominion Bank by 5.6% during the fourth quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock valued at $1,488,233,000 after acquiring an additional 1,491,472 shares in the last quarter. Norges Bank purchased a new position in shares of Toronto-Dominion Bank in the 4th quarter valued at approximately $992,204,000. Finally, Beutel Goodman & Co Ltd. raised its position in shares of Toronto-Dominion Bank by 3.8% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock valued at $894,169,000 after purchasing an additional 622,736 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.