Toronto-Dominion Bank (NYSE:TD) Hits New 12-Month Low – What’s Next?

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $51.63 and last traded at $51.89, with a volume of 1610853 shares. The stock had previously closed at $52.55.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Royal Bank of Canada lowered their price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Finally, StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market capitalization of $90.68 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.69 and a beta of 0.82. The business’s 50-day simple moving average is $55.85 and its 200-day simple moving average is $57.53.

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be paid a $0.7482 dividend. The ex-dividend date of this dividend is Friday, January 10th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.78%. Toronto-Dominion Bank’s dividend payout ratio is 89.34%.

Institutional Trading of Toronto-Dominion Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its position in Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock worth $1,429,186,000 after acquiring an additional 218,807 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Toronto-Dominion Bank by 6.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after acquiring an additional 1,462,794 shares during the last quarter. CIBC Asset Management Inc boosted its position in Toronto-Dominion Bank by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after acquiring an additional 853,313 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Toronto-Dominion Bank by 9.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock worth $759,449,000 after acquiring an additional 1,206,574 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Toronto-Dominion Bank by 24.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after acquiring an additional 2,689,532 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

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.