The Toronto-Dominion Bank (NYSE:TD) Receives Average Rating of “Hold” from Analysts

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has earned an average recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $80.50.

A number of equities research analysts have issued reports on TD shares. Jefferies Financial Group lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Finally, StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently made changes to their positions in TD. Lee Danner & Bass Inc. purchased a new position in Toronto-Dominion Bank in the fourth quarter worth approximately $27,000. Financial Management Professionals Inc. lifted its position in shares of Toronto-Dominion Bank by 322.4% during the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank’s stock worth $29,000 after purchasing an additional 374 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of Toronto-Dominion Bank during the fourth quarter worth $32,000. CoreCap Advisors LLC lifted its stake in Toronto-Dominion Bank by 57.5% during the fourth quarter. CoreCap Advisors LLC now owns 630 shares of the bank’s stock worth $34,000 after purchasing an additional 230 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Toronto-Dominion Bank by 40.0% during the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Up 0.4 %

Shares of NYSE:TD opened at $60.67 on Tuesday. Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $64.91. The stock has a market capitalization of $106.31 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day simple moving average is $59.25 and its two-hundred day simple moving average is $57.12.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a dividend of $0.7278 per share. This represents a $2.91 annualized dividend and a yield of 4.80%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s payout ratio is 85.59%.

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.