Toronto-Dominion Bank (NYSE:TD) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a buy rating to a hold rating in a research report report published on Tuesday, MarketBeat Ratings reports.

Other equities analysts also recently issued reports about the company. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Finally, StockNews.com upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $60.38 on Tuesday. The company has a market cap of $105.68 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.94 and a beta of 0.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50-day moving average of $55.91 and a two-hundred day moving average of $57.51. Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were paid a dividend of $0.7482 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Friday, January 10th. This represents a $2.99 annualized dividend and a yield of 4.96%. Toronto-Dominion Bank’s payout ratio is presently 84.15%.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Toronto-Dominion Bank by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after purchasing an additional 1,415,934 shares during the last quarter. FIL Ltd lifted its stake in Toronto-Dominion Bank by 17.3% during the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after purchasing an additional 5,756,584 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Toronto-Dominion Bank by 5.6% during the fourth quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock worth $1,488,233,000 after purchasing an additional 1,491,472 shares during the last quarter. Norges Bank purchased a new stake in Toronto-Dominion Bank during the fourth quarter worth approximately $992,204,000. Finally, Beutel Goodman & Co Ltd. lifted its stake in Toronto-Dominion Bank by 3.8% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock worth $894,169,000 after purchasing an additional 622,736 shares during the last quarter. Hedge funds and other 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.