The Toronto-Dominion Bank (NYSE:TD) Receives Consensus Recommendation of “Hold” from Brokerages

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $80.50.

Several analysts have recently commented on the stock. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Royal Bank of Canada lowered their price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Jefferies Financial Group cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Finally, Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dunhill Financial LLC lifted its stake 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 buying an additional 249 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Toronto-Dominion Bank in the fourth quarter worth approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Toronto-Dominion Bank during the fourth quarter worth approximately $32,000. CoreCap Advisors LLC lifted its holdings in Toronto-Dominion Bank by 57.5% in the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank’s stock valued at $34,000 after purchasing an additional 230 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Toronto-Dominion Bank by 40.0% during the 4th 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 0.7 %

Toronto-Dominion Bank stock opened at $60.95 on Friday. The stock has a 50-day moving average price of $58.71 and a 200 day moving average price of $57.62. The company has a market capitalization of $106.80 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. 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 declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be issued a $0.7278 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a yield of 4.78%. Toronto-Dominion Bank’s payout ratio is 85.29%.

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.