Toronto-Dominion Bank (NYSE:TD) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD from a market perform rating to an outperform rating in a research note released on Thursday, Marketbeat Ratings reports.

Other analysts also recently issued research reports about the stock. Barclays downgraded shares of Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a report on Thursday, November 21st. National Bank Financial upgraded shares of Toronto-Dominion Bank from an "underperform" rating to a "sector perform" rating in a report on Thursday, August 22nd. Jefferies Financial Group raised Toronto-Dominion Bank from a "hold" rating to a "buy" rating in a research report on Thursday, December 12th. Desjardins downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Friday, December 6th. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $80.50.

Toronto-Dominion Bank Price Performance

TD stock traded down $0.25 during trading on Thursday, hitting $51.56. The stock had a trading volume of 1,888,400 shares, compared to its average volume of 2,712,596. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02. The company's 50-day moving average price is $55.46 and its two-hundred day moving average price is $57.45. The stock has a market capitalization of $90.24 billion, a P/E ratio of 14.86, a PEG ratio of 1.69 and a beta of 0.82. Toronto-Dominion Bank has a twelve month low of $51.56 and a twelve month high of $65.12.

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 is an increase from Toronto-Dominion Bank's previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. This represents a $2.99 annualized dividend and a dividend yield of 5.80%. Toronto-Dominion Bank's payout ratio is currently 89.34%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TD. Dunhill Financial LLC grew 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 worth $25,000 after buying an additional 249 shares in the last quarter. Blue Trust Inc. increased its stake in Toronto-Dominion Bank by 50.7% during the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank's stock valued at $38,000 after purchasing an additional 212 shares in the last quarter. Kimelman & Baird LLC bought a new position in shares of Toronto-Dominion Bank during the second quarter valued at $49,000. Morse Asset Management Inc purchased a new position in Toronto-Dominion Bank in the third quarter worth about $63,000. Finally, Eastern Bank purchased a new position in Toronto-Dominion Bank during the third quarter valued at $66,000. 52.37% of the stock is owned by institutional investors.

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.