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

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been given a consensus rating of “Hold” by the ten analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $80.50.

Several analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. BMO Capital Markets upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $59.50 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $104.25 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 1.95 and a beta of 0.83. The firm’s 50 day simple moving average is $58.46 and its 200 day simple moving average is $57.62. Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year 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. Investors of record on Thursday, April 10th will be paid a $0.7278 dividend. This represents a $2.91 annualized dividend and a yield of 4.89%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s payout ratio is 85.29%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in TD. Norges Bank bought a new position in Toronto-Dominion Bank in the 4th quarter valued at approximately $992,204,000. FIL Ltd raised its stake in shares of Toronto-Dominion Bank by 17.3% during 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 last quarter. The Manufacturers Life Insurance Company raised its stake 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 last quarter. Geode Capital Management LLC raised its stake in shares of Toronto-Dominion Bank by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank’s stock valued at $569,878,000 after acquiring an additional 2,564,648 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Toronto-Dominion Bank by 61.1% during the third 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 acquiring an additional 2,279,864 shares during the last quarter. 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.