The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $101.00.
TD has been the subject of several recent analyst reports. Canaccord Genuity Group upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$95.00 to C$103.00 in a research report on Monday, December 5th. Scotiabank reduced their price objective on shares of Toronto-Dominion Bank from C$101.00 to C$100.00 in a research report on Tuesday, November 22nd. Royal Bank of Canada upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, August 26th. StockNews.com initiated coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, National Bank Financial reduced their price objective on shares of Toronto-Dominion Bank from C$106.00 to C$103.00 in a research report on Friday, November 18th.
Institutional Trading of Toronto-Dominion Bank
Several institutional investors and hedge funds have recently bought and sold shares of TD. Canada Pension Plan Investment Board raised its position in Toronto-Dominion Bank by 59.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 9,357,770 shares of the bank’s stock worth $576,973,000 after buying an additional 3,493,369 shares during the last quarter. Toronto Dominion Bank raised its position in Toronto-Dominion Bank by 45.0% during the 3rd quarter. Toronto Dominion Bank now owns 11,007,320 shares of the bank’s stock worth $675,016,000 after buying an additional 3,417,464 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Toronto-Dominion Bank during the 1st quarter worth $250,951,000. Vanguard Group Inc. raised its position in Toronto-Dominion Bank by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 67,240,327 shares of the bank’s stock worth $4,123,850,000 after buying an additional 2,238,912 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Toronto-Dominion Bank by 12.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,243,311 shares of the bank’s stock worth $1,129,773,000 after buying an additional 1,599,227 shares during the last quarter. Hedge funds and other institutional investors own 49.10% of the company’s stock.
Toronto-Dominion Bank Trading Down 0.6 %
NYSE TD opened at $63.25 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Toronto-Dominion Bank has a 52 week low of $57.27 and a 52 week high of $86.01. The stock has a market capitalization of $115.22 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.90. The firm has a 50 day moving average of $64.85 and a two-hundred day moving average of $65.58.
Toronto-Dominion Bank Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be given a $0.7081 dividend. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, January 5th. This represents a $2.83 annualized dividend and a yield of 4.48%. Toronto-Dominion Bank’s dividend payout ratio is 35.11%.
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 Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking segments. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.
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