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

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

Several other analysts also recently commented on the company. Royal Bank of Canada cut their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating 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. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Finally, Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $57.47 on Wednesday. Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $64.91. The firm’s 50-day moving average is $54.75 and its 200 day moving average is $57.38. The stock has a market cap of $100.59 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.82 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 Increases Dividend

The business also recently declared 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. This represents a $2.99 annualized dividend and a yield of 5.21%. The ex-dividend date was Friday, January 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s payout ratio is currently 84.15%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Hedge funds have recently modified their holdings of the company. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Toronto-Dominion Bank in the fourth quarter valued at about $416,000. Kohmann Bosshard Financial Services LLC bought a new stake in Toronto-Dominion Bank during the 4th quarter valued at approximately $176,000. Proficio Capital Partners LLC purchased a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $581,000. Mn Services Vermogensbeheer B.V. boosted its stake in Toronto-Dominion Bank by 0.8% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 387,300 shares of the bank’s stock worth $20,609,000 after purchasing an additional 3,200 shares during the period. Finally, K.J. Harrison & Partners Inc grew its holdings in Toronto-Dominion Bank by 33.4% during the 4th quarter. K.J. Harrison & Partners Inc now owns 153,745 shares of the bank’s stock valued at $8,158,000 after buying an additional 38,523 shares in the last quarter. 52.37% of the stock is currently 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.