Toronto-Dominion Bank (NYSE:TD) Now Covered by Analysts at Barclays

Barclays began coverage on shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in a report published on Wednesday morning, Marketbeat Ratings reports. The firm issued an equal weight rating on the bank’s stock.

Other research analysts also recently issued reports about the company. CIBC downgraded Toronto-Dominion Bank from a sector outperform rating to a neutral rating in a research note on Wednesday, November 22nd. Scotiabank cut shares of Toronto-Dominion Bank from a sector outperform rating to a sector perform rating in a research note on Wednesday, December 20th. StockNews.com upgraded Toronto-Dominion Bank from a sell rating to a hold rating in a report on Monday, December 4th. Jefferies Financial Group began coverage on Toronto-Dominion Bank in a report on Thursday, February 22nd. They set a hold rating for the company. Finally, Bank of America downgraded Toronto-Dominion Bank from a buy rating to a neutral rating in a research note on Monday, December 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of Hold and an average target price of $89.33.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $60.13 on Wednesday. Toronto-Dominion Bank has a 52 week low of $54.69 and a 52 week high of $66.15. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09. The firm has a market cap of $106.14 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.84 and a beta of 0.86. The business’s 50 day moving average price is $60.02 and its 200 day moving average price is $60.33.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th will be paid a dividend of $0.7519 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 8th. This represents a $3.01 annualized dividend and a yield of 5.00%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 45.73%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Toronto-Dominion Bank by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 73,810,627 shares of the bank’s stock valued at $4,769,643,000 after acquiring an additional 1,426,362 shares during the period. TD Asset Management Inc boosted its stake in shares of Toronto-Dominion Bank by 28.9% in the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after buying an additional 10,415,591 shares during the period. Canoe Financial LP grew its holdings in Toronto-Dominion Bank by 2,035.4% during the 4th quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after acquiring an additional 40,803,711 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Toronto-Dominion Bank by 20.8% in the 3rd quarter. National Bank of Canada FI now owns 38,707,020 shares of the bank’s stock valued at $2,275,959,000 after purchasing an additional 6,665,503 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Toronto-Dominion Bank by 0.3% during the fourth quarter. Bank of Nova Scotia now owns 33,335,463 shares of the bank’s stock worth $2,154,141,000 after purchasing an additional 105,772 shares in the last quarter. 51.52% of the stock is currently owned by hedge funds and other institutional investors.

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.