Analysts Set The Toronto-Dominion Bank (NYSE:TD) Price Target at $80.50

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has been given an average rating of “Hold” by the ten brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $80.50.

TD has been the subject of a number of research reports. Royal Bank of Canada dropped their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, December 6th. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th.

Institutional Trading of Toronto-Dominion Bank

Several institutional investors have recently added to or reduced their stakes in TD. Vanguard Group Inc. boosted its stake in shares of Toronto-Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after purchasing an additional 1,415,934 shares during the last quarter. FIL Ltd grew its holdings in Toronto-Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after acquiring an additional 5,756,584 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Toronto-Dominion Bank by 5.6% in the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock valued at $1,488,233,000 after purchasing an additional 1,491,472 shares during the period. Norges Bank acquired a new position in shares of Toronto-Dominion Bank in the 4th quarter valued at about $992,204,000. Finally, Beutel Goodman & Co Ltd. boosted its position in shares of Toronto-Dominion Bank by 3.8% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock valued at $894,169,000 after purchasing an additional 622,736 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock opened at $59.89 on Monday. The stock has a fifty day moving average of $56.78 and a 200-day moving average of $57.64. The stock has a market capitalization of $104.94 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.7278 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.86%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 83.86%.

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.