Toronto-Dominion Bank (NYSE:TD) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD from a sell rating to a hold rating in a research note published on Wednesday morning.

Several other research firms have also weighed in on TD. Desjardins lowered shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Friday, December 6th. BMO Capital Markets upgraded Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Thursday, December 19th. 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. Bank of America raised Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Finally, Barclays downgraded shares of Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank currently has an average rating of "Hold" and a consensus target price of $80.50.

Toronto-Dominion Bank Trading Up 0.1 %

NYSE TD traded up $0.06 during mid-day trading on Wednesday, hitting $57.98. The company's stock had a trading volume of 2,420,856 shares, compared to its average volume of 2,494,237. The firm has a market capitalization of $101.49 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $64.91. The stock's fifty day simple moving average is $54.82 and its two-hundred day simple moving average is $57.38.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were issued a dividend of $0.7482 per share. The ex-dividend date of this dividend was Friday, January 10th. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $0.74. This represents a $2.99 annualized dividend and a yield of 5.16%. Toronto-Dominion Bank's payout ratio is currently 84.15%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC lifted its position in shares of Toronto-Dominion Bank by 57.1% during the third quarter. Cerity Partners LLC now owns 26,755 shares of the bank's stock worth $1,693,000 after purchasing an additional 9,725 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Toronto-Dominion Bank by 1.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank's stock valued at $617,166,000 after buying an additional 144,427 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in 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 worth $380,118,000 after buying an additional 2,279,864 shares during the last quarter. Galibier Capital Management Ltd. grew its position in shares of Toronto-Dominion Bank by 24.6% in the 3rd quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank's stock worth $38,527,000 after acquiring an additional 119,978 shares in the last quarter. Finally, Forsta AP Fonden increased its holdings in shares of Toronto-Dominion Bank by 3.2% in the 3rd quarter. Forsta AP Fonden now owns 466,500 shares of the bank's stock valued at $29,531,000 after acquiring an additional 14,500 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

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 four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.