The Toronto-Dominion Bank (NYSE:TD) Receives Average Rating of “Hold” from Brokerages

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have received a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $80.50.

A number of analysts have recently weighed in on TD shares. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Friday, December 27th. Barclays cut Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Finally, Jefferies Financial Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TD. Central Pacific Bank Trust Division purchased a new position in Toronto-Dominion Bank in the 4th quarter worth about $190,000. Versant Capital Management Inc grew its stake in shares of Toronto-Dominion Bank by 40.0% in the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after acquiring an additional 200 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Toronto-Dominion Bank during the third quarter valued at approximately $247,000. World Investment Advisors LLC bought a new position in Toronto-Dominion Bank during the third quarter valued at approximately $265,000. Finally, Tudor Financial Inc. purchased a new stake in Toronto-Dominion Bank in the third quarter worth approximately $268,000. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $53.81 on Friday. The business’s fifty day moving average is $54.67 and its 200 day moving average is $57.29. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The stock has a market cap of $94.18 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.69 and a beta of 0.82. Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $65.12.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be issued a $0.7482 dividend. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date is Friday, January 10th. Toronto-Dominion Bank’s payout ratio is presently 89.34%.

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.