The Toronto-Dominion Bank (NYSE:TD) Receives $80.50 Average PT from Analysts

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been assigned an average rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $80.50.

A number of analysts recently issued reports on the company. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Royal Bank of Canada cut 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 research report on Friday, December 6th. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th.

Toronto-Dominion Bank Stock Down 0.2 %

Toronto-Dominion Bank stock opened at $61.00 on Friday. The firm’s 50 day moving average price is $58.94 and its two-hundred day moving average price is $57.67. The firm has a market cap of $106.89 billion, a PE ratio of 17.58, a P/E/G ratio of 1.95 and a beta of 0.83. Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a $0.7278 dividend. This represents a $2.91 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 85.29%.

Institutional Trading of Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Toronto-Dominion Bank in the 4th quarter valued at $992,204,000. FIL Ltd grew its position in Toronto-Dominion Bank by 17.3% in the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock valued at $2,075,819,000 after acquiring an additional 5,756,584 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Toronto-Dominion Bank by 24.9% during 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 acquiring an additional 2,689,532 shares during the period. Geode Capital Management LLC increased its position in shares of Toronto-Dominion Bank by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank’s stock worth $569,878,000 after purchasing an additional 2,564,648 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock valued at $380,118,000 after purchasing an additional 2,279,864 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto-Dominion Bank

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.