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

Shares of The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD have been assigned a consensus rating of "Hold" from the nine ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $80.50.

TD has been the subject of several analyst reports. Desjardins downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Scotiabank lowered shares of Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a research report on Friday, December 6th. StockNews.com lowered shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research report on Friday, December 27th. Barclays downgraded Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group raised Toronto-Dominion Bank from a "hold" rating to a "buy" rating in a research report on Thursday, December 12th.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock traded up $0.69 during mid-day trading on Friday, hitting $53.81. 4,412,118 shares of the company were exchanged, compared to its average volume of 3,991,459. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $65.12. The business's 50 day simple moving average is $54.67 and its two-hundred day simple moving average is $57.31. The company has a market capitalization of $94.18 billion, a P/E ratio of 15.51, a PEG ratio of 1.69 and a beta of 0.82.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be issued a dividend of $0.7482 per share. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.56%. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Friday, January 10th. Toronto-Dominion Bank's dividend payout ratio is presently 89.34%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank's stock valued at $854,815,000 after purchasing an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings 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 buying an additional 2,279,864 shares during the period. Dimensional Fund Advisors LP lifted its position in Toronto-Dominion Bank by 61.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank's stock worth $319,151,000 after acquiring an additional 2,215,185 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in Toronto-Dominion Bank by 175.5% in the 3rd quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank's stock worth $156,202,000 after acquiring an additional 1,571,700 shares during the period. Finally, 1832 Asset Management L.P. grew its position in Toronto-Dominion Bank by 6.0% in the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank's stock valued at $1,418,159,000 after acquiring an additional 1,462,794 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

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.