The Toronto-Dominion Bank (NYSE:TD) Receives $80.50 Consensus PT from Brokerages

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $80.50.

Several analysts have recently weighed in on TD shares. Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Jefferies Financial Group upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada cut 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 report on Friday, December 6th. BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Finally, Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in shares of Toronto-Dominion Bank by 24.9% during the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after buying an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position 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 valued at $380,118,000 after acquiring an additional 2,279,864 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Toronto-Dominion Bank by 61.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after acquiring an additional 2,215,185 shares in the last quarter. Quadrature Capital Ltd raised its position in shares of Toronto-Dominion Bank by 175.5% in the 3rd quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after acquiring an additional 1,571,700 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Toronto-Dominion Bank by 6.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after purchasing an additional 1,462,794 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Up 0.1 %

TD stock opened at $54.23 on Friday. Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91. The stock has a market cap of $94.92 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.83. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $54.55 and its 200 day moving average is $57.31.

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. The ex-dividend date is Friday, January 10th. This represents a $2.99 annualized dividend and a yield of 5.52%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 83.86%.

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.