Toronto-Dominion Bank (NYSE:TD) Upgraded at Bank of America

Bank of America upgraded shares of Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD from a neutral rating to a buy rating in a research report released on Friday morning, Marketbeat Ratings reports.

TD has been the subject of several other reports. 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 price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating for the company in a research note on Friday, December 6th. Desjardins downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Scotiabank downgraded shares of Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a research note on Friday, December 6th. Finally, StockNews.com downgraded shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research note on Friday, December 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank currently has an average rating of "Hold" and an average target price of $80.50.

Toronto-Dominion Bank Trading Up 3.9 %

Shares of NYSE:TD traded up $2.17 during midday trading on Friday, hitting $57.49. 7,301,617 shares of the stock traded hands, compared to its average volume of 1,972,374. The stock has a market capitalization of $100.63 billion, a PE ratio of 16.57, a P/E/G ratio of 1.72 and a beta of 0.83. The business's 50 day moving average is $54.48 and its two-hundred day moving average is $57.31. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be issued a $0.7482 dividend. This represents a $2.99 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Friday, January 10th. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $0.74. Toronto-Dominion Bank's dividend payout ratio is 87.03%.

Institutional Investors Weigh In On Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of TD. Dunhill Financial LLC grew its holdings in shares of Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank's stock valued at $25,000 after buying an additional 249 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Toronto-Dominion Bank by 40.0% during the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank's stock valued at $37,000 after buying an additional 200 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Toronto-Dominion Bank during the second quarter valued at approximately $49,000. Morse Asset Management Inc purchased a new stake in shares of Toronto-Dominion Bank during the third quarter valued at approximately $63,000. Finally, Eastern Bank purchased a new stake in shares of Toronto-Dominion Bank during the third quarter valued at approximately $66,000. Hedge funds and other institutional investors 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.