The Toronto-Dominion Bank (NYSE:TD) Short Interest Update

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) saw a significant increase in short interest in the month of 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. Currently, 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 2,380,000 shares, the days-to-cover ratio is currently 4.9 days.

Institutional Trading of Toronto-Dominion Bank

A number of hedge funds have recently modified their holdings of the business. Frank Rimerman Advisors LLC boosted its holdings in shares of Toronto-Dominion Bank by 3.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 5,446 shares of the bank’s stock valued at $290,000 after buying an additional 171 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in shares of Toronto-Dominion Bank by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 22,309 shares of the bank’s stock valued at $1,411,000 after buying an additional 184 shares in the last quarter. Passumpsic Savings Bank boosted its holdings in shares of Toronto-Dominion Bank by 2.6% during the 3rd quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank’s stock valued at $476,000 after buying an additional 194 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Toronto-Dominion Bank by 40.0% during the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Finally, Cardinal Capital Management boosted its holdings in shares of Toronto-Dominion Bank by 0.5% during the 4th quarter. Cardinal Capital Management now owns 44,685 shares of the bank’s stock valued at $2,379,000 after buying an additional 205 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on TD shares. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada reduced their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $59.67 on Wednesday. Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The stock has a market cap of $104.55 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average price is $58.12 and its 200-day moving average price is $57.61.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 85.29%.

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.