Toronto-Dominion Bank (NYSE:TD) Hits New 52-Week High – Here’s What Happened

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $65.02 and last traded at $64.84, with a volume of 153371 shares changing hands. The stock had previously closed at $64.74.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TD. StockNews.com upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Scotiabank began coverage on shares of Toronto-Dominion Bank in a report on Thursday, May 15th. They issued a “sector perform” rating for the company. Finally, Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Price Performance

The stock has a market capitalization of $116.63 billion, a P/E ratio of 19.41, a PEG ratio of 1.95 and a beta of 0.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a fifty day moving average price of $61.08 and a two-hundred day moving average price of $57.97.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.7278 per share. The ex-dividend date was Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a yield of 4.33%. Toronto-Dominion Bank’s dividend payout ratio is currently 85.59%.

Institutional Trading of Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of TD. Asahi Life Asset Management CO. LTD. purchased a new stake in Toronto-Dominion Bank in the 4th quarter worth approximately $416,000. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. JPMorgan Chase & Co. raised its position in shares of Toronto-Dominion Bank by 3.4% during the 4th quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank’s stock valued at $384,042,000 after purchasing an additional 236,037 shares during the period. Nicola Wealth Management LTD. lifted its stake in shares of Toronto-Dominion Bank by 15.5% during the 4th quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank’s stock valued at $27,153,000 after buying an additional 68,400 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd boosted its holdings in Toronto-Dominion Bank by 21.2% in the 4th quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank’s stock worth $3,383,000 after buying an additional 11,100 shares during the period. Hedge funds and other 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.