The Toronto-Dominion Bank (NYSE:TD) Receives Consensus Recommendation of "Hold" from Analysts

The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD has earned an average rating of "Hold" from the ten ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $80.50.

A number of research firms have commented on TD. Bank of America raised shares of Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Scotiabank downgraded Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a research report on Friday, December 6th. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Royal Bank of Canada reduced their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating on the stock in a research note on Friday, December 6th. Finally, BMO Capital Markets raised shares of Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Thursday, December 19th.

Toronto-Dominion Bank Stock Performance

NYSE TD traded up $1.03 on Friday, hitting $60.56. 1,594,360 shares of the stock were exchanged, compared to its average volume of 2,400,925. The company has a market capitalization of $106.11 billion, a PE ratio of 17.45, a P/E/G ratio of 1.95 and a beta of 0.83. The business's fifty day moving average is $58.46 and its 200 day moving average is $57.62. Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.

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Toronto-Dominion Bank Cuts Dividend

The business 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 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio is currently 85.29%.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Toronto-Dominion Bank in the fourth quarter valued at $992,204,000. FIL Ltd boosted its holdings in Toronto-Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock worth $2,075,819,000 after acquiring an additional 5,756,584 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Toronto-Dominion Bank by 24.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank's stock worth $854,815,000 after purchasing an additional 2,689,532 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Toronto-Dominion Bank by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock valued at $569,878,000 after acquiring an additional 2,564,648 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank's stock valued at $380,118,000 after purchasing an additional 2,279,864 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

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.