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 assigned a consensus recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $80.50.

A number of equities research analysts recently commented on TD shares. 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 dropped their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Friday, December 27th.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $54.21 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02. The business has a fifty day moving average of $54.57 and a 200 day moving average of $57.30. The firm has a market capitalization of $94.88 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.69 and a beta of 0.83. Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $64.91.

Toronto-Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be paid a $0.7482 dividend. This represents a $2.99 annualized dividend and a dividend yield of 5.52%. The ex-dividend date is Friday, January 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s payout ratio is currently 89.34%.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of hedge funds have recently bought and sold shares of the business. Bank of New Hampshire grew its position in shares of Toronto-Dominion Bank by 499.2% in the fourth quarter. Bank of New Hampshire now owns 2,996 shares of the bank’s stock valued at $160,000 after purchasing an additional 2,496 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Toronto-Dominion Bank in the 4th quarter worth about $190,000. Versant Capital Management Inc increased its stake in 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 buying an additional 200 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Toronto-Dominion Bank during the third quarter valued at approximately $247,000. Finally, World Investment Advisors LLC purchased a new position in shares of Toronto-Dominion Bank in the third quarter valued at approximately $265,000. 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.