The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 11,720,000 shares, an increase of 26.7% from the February 13th total of 9,250,000 shares. Based on an average trading volume of 2,380,000 shares, the days-to-cover ratio is currently 4.9 days. Currently, 0.7% of the company's stock are short sold.
Toronto-Dominion Bank Stock Performance
Toronto-Dominion Bank stock traded down $0.41 during mid-day trading on Friday, reaching $59.50. 1,950,277 shares of the company's stock were exchanged, compared to its average volume of 2,416,154. The firm has a market capitalization of $104.25 billion, a PE ratio of 17.15, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The business's fifty day simple moving average is $58.35 and its 200 day simple moving average is $57.64. Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91.
Toronto-Dominion Bank Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a $0.7278 dividend. This represents a $2.91 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank's payout ratio is 85.29%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of TD. Asahi Life Asset Management CO. LTD. bought a new position in Toronto-Dominion Bank during the fourth quarter valued at $416,000. Cerity Partners LLC lifted its position in shares of Toronto-Dominion Bank by 57.1% during the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank's stock valued at $1,693,000 after buying an additional 9,725 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Toronto-Dominion Bank by 1.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank's stock worth $617,166,000 after acquiring an additional 144,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Toronto-Dominion Bank by 61.1% in 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 acquiring an additional 2,279,864 shares during the period. Finally, FMR LLC lifted its holdings in Toronto-Dominion Bank by 9.9% during the third quarter. FMR LLC now owns 6,553,761 shares of the bank's stock valued at $414,417,000 after purchasing an additional 587,947 shares during the last quarter. 52.37% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Barclays downgraded shares of Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a research note on Thursday, November 21st. Royal Bank of Canada decreased their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating for the company in a research report on Friday, December 6th. BMO Capital Markets raised Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Thursday, December 19th. Desjardins cut Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Finally, Scotiabank lowered Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $80.50.
Read Our Latest Stock Analysis on Toronto-Dominion Bank
About Toronto-Dominion Bank
(
Get Free Report)
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.
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