Toronto-Dominion Bank (NYSE:TD) Upgraded at Bank of America

Bank of America upgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a neutral rating to a buy rating in a report released on Friday, Marketbeat.com reports.

A number of other research firms have also recently commented on TD. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating 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 Friday, December 27th. Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. BMO Capital Markets upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Finally, Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Stock Up 3.9 %

NYSE TD opened at $57.49 on Friday. The business’s fifty day simple moving average is $54.48 and its 200-day simple moving average is $57.33. 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 firm has a market cap of $100.63 billion, a PE ratio of 16.57, a P/E/G ratio of 1.72 and a beta of 0.83. Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be given a $0.7482 dividend. 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 5.21%. The ex-dividend date is Friday, January 10th. Toronto-Dominion Bank’s payout ratio is currently 87.03%.

Institutional Trading of Toronto-Dominion Bank

Several hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC raised its stake in shares of Toronto-Dominion Bank by 30.2% in the fourth quarter. Avior Wealth Management LLC now owns 3,007 shares of the bank’s stock valued at $160,000 after acquiring an additional 697 shares in the last quarter. Mutual Advisors LLC increased its holdings in Toronto-Dominion Bank by 467.0% during the 4th quarter. Mutual Advisors LLC now owns 24,779 shares of the bank’s stock worth $1,371,000 after purchasing an additional 20,409 shares during the period. Bridgewater Advisors Inc. raised its position in Toronto-Dominion Bank by 2.8% in the 4th quarter. Bridgewater Advisors Inc. now owns 10,381 shares of the bank’s stock valued at $568,000 after purchasing an additional 286 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in Toronto-Dominion Bank in the 4th quarter valued at about $268,000. Finally, Avanza Fonder AB purchased a new position in shares of Toronto-Dominion Bank in the 4th quarter valued at about $6,416,000. Institutional investors and hedge funds 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.