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

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been given a consensus recommendation of “Hold” by the ten brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $80.50.

A number of equities research analysts have weighed in on the stock. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Royal Bank of Canada lowered their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Finally, Barclays cut Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several hedge funds have recently modified their holdings of TD. CWM LLC lifted its holdings in shares of Toronto-Dominion Bank by 2.4% in the 3rd quarter. CWM LLC now owns 7,208 shares of the bank’s stock valued at $456,000 after buying an additional 170 shares during the period. Pathstone Holdings LLC lifted its holdings in Toronto-Dominion Bank by 0.8% in the third quarter. Pathstone Holdings LLC now owns 22,309 shares of the bank’s stock valued at $1,411,000 after acquiring an additional 184 shares during the period. Passumpsic Savings Bank boosted its position in shares of Toronto-Dominion Bank by 2.6% during the 3rd quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank’s stock worth $476,000 after purchasing an additional 194 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Toronto-Dominion Bank by 40.0% during the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after purchasing an additional 200 shares during the period. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Toronto-Dominion Bank by 18.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,337 shares of the bank’s stock valued at $85,000 after purchasing an additional 209 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $57.41 on Thursday. 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 company has a market capitalization of $100.49 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.82 and a beta of 0.83. The firm’s 50-day moving average is $54.62 and its two-hundred day moving average is $57.41. Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be issued a $0.7482 dividend. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.21%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 84.15%.

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.