Toronto-Dominion Bank (NYSE:TD) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a sell rating to a hold rating in a research report report published on Monday morning.

Several other research firms have also commented on TD. Royal Bank of Canada decreased their target price 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. Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Barclays downgraded Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Up 0.7 %

Shares of NYSE TD opened at $53.49 on Monday. The stock has a market capitalization of $93.62 billion, a P/E ratio of 15.41, a PEG ratio of 1.79 and a beta of 0.82. The stock’s fifty day moving average is $56.88 and its 200 day moving average is $57.61. Toronto-Dominion Bank has a 52 week low of $51.74 and a 52 week high of $65.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

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 issued a $0.7482 dividend. This represents a $2.99 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date is Friday, January 10th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio is presently 89.34%.

Institutional Trading of Toronto-Dominion Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp boosted its position in Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock worth $1,429,186,000 after buying an additional 218,807 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Toronto-Dominion Bank by 6.0% during the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after purchasing an additional 1,462,794 shares during the period. CIBC Asset Management Inc grew its stake in shares of Toronto-Dominion Bank by 5.4% in the third quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after purchasing an additional 853,313 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Toronto-Dominion Bank by 9.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock valued at $759,449,000 after purchasing an additional 1,206,574 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after purchasing an additional 2,689,532 shares during the period. 52.37% of the stock is currently owned by institutional investors.

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.