The Toronto-Dominion Bank (NYSE:TD) Receives $80.50 Average PT from Brokerages

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been given a consensus recommendation of “Hold” by the ten research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $80.50.

Several equities analysts recently weighed in on TD shares. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Jefferies Financial Group cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th.

Institutional Trading of Toronto-Dominion Bank

A number of institutional investors have recently added to or reduced their stakes in TD. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at about $416,000. Vanguard Group Inc. increased its position in Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after buying an additional 1,415,934 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Toronto-Dominion Bank by 3.4% in the fourth quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank’s stock valued at $384,042,000 after purchasing an additional 236,037 shares during the period. Nicola Wealth Management LTD. boosted its position in Toronto-Dominion Bank by 15.5% during the 4th quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank’s stock worth $27,153,000 after acquiring an additional 68,400 shares during the period. Finally, Te Ahumairangi Investment Management Ltd lifted its holdings in Toronto-Dominion Bank by 21.2% in the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank’s stock worth $3,383,000 after purchasing an additional 11,100 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Up 0.4 %

Shares of NYSE TD opened at $60.67 on Tuesday. The stock has a market capitalization of $106.31 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The firm has a 50-day moving average price of $59.25 and a 200 day moving average price of $57.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Cuts Dividend

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

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.