Stock Traders Purchase Large Volume of Call Options on Toronto-Dominion Bank (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) saw some unusual options trading on Thursday. Stock traders bought 3,546 call options on the company. This is an increase of approximately 29% compared to the typical volume of 2,755 call options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TD. Dunhill Financial LLC lifted its holdings in shares of Toronto-Dominion Bank by 164.9% during the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after acquiring an additional 249 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of Toronto-Dominion Bank during the 2nd quarter worth about $31,000. Blue Trust Inc. lifted its holdings in shares of Toronto-Dominion Bank by 50.7% during the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after acquiring an additional 212 shares during the period. Kimelman & Baird LLC purchased a new position in shares of Toronto-Dominion Bank during the 2nd quarter worth about $49,000. Finally, Morse Asset Management Inc purchased a new position in shares of Toronto-Dominion Bank during the 3rd quarter worth about $63,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TD has been the subject of a number of recent analyst reports. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada cut their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research note on Friday. Finally, Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Trading Down 1.6 %

Shares of TD stock opened at $51.95 on Friday. The company has a market capitalization of $90.92 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.85 and a beta of 0.82. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $57.53 and a 200 day moving average price of $57.67. Toronto-Dominion Bank has a twelve month low of $51.74 and a twelve month high of $65.12.

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 5.76%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is 96.17%.

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.