Toronto-Dominion Bank (NYSE:TD) Upgraded to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a buy rating in a report issued on Thursday morning, Marketbeat reports.

Several other brokerages have also recently weighed in on TD. Royal Bank of Canada decreased 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, December 6th. StockNews.com upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Monday. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $53.50 on Thursday. The stock has a market cap of $93.64 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 1.70 and a beta of 0.82. Toronto-Dominion Bank has a twelve month low of $51.74 and a twelve month high of $65.12. The company’s fifty day moving average is $56.49 and its 200 day moving average is $57.55. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Increases Dividend

The business also recently declared 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 5.59%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 87.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its position in Toronto-Dominion Bank by 164.9% in the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after acquiring an additional 249 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Toronto-Dominion Bank in the second quarter worth approximately $31,000. Blue Trust Inc. lifted its holdings in shares of Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after purchasing an additional 212 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Toronto-Dominion Bank during the second quarter valued at approximately $49,000. Finally, Morse Asset Management Inc purchased a new position in shares of Toronto-Dominion Bank during the third quarter valued at approximately $63,000. 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.