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

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have earned an average recommendation of “Hold” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $80.50.

TD has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Jefferies Financial Group raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. StockNews.com upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays downgraded Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Finally, Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD opened at $57.47 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 firm has a market cap of $100.59 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 1.82 and a beta of 0.84. The stock’s fifty day moving average price is $54.75 and its two-hundred day moving average price is $57.38. 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 firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were given a $0.7482 dividend. This represents a $2.99 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend was Friday, January 10th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s payout ratio is currently 84.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in Toronto-Dominion Bank by 24.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after purchasing an additional 2,689,532 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Toronto-Dominion Bank by 61.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after buying an additional 2,279,864 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of Toronto-Dominion Bank by 175.5% during the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after buying an additional 1,571,700 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Toronto-Dominion Bank by 64.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock valued at $143,922,000 after acquiring an additional 892,183 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Toronto-Dominion Bank by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock valued at $1,046,825,000 after acquiring an additional 853,313 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

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.