Toronto-Dominion Bank (NYSE:TD) Rating Increased to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a market perform rating to an outperform rating in a research report released on Thursday morning, MarketBeat Ratings reports.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada dropped their price objective on 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 cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Jefferies Financial Group upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toronto-Dominion Bank has an average rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $51.56 on Thursday. The company has a market cap of $90.24 billion, a P/E ratio of 14.86, a PEG ratio of 1.69 and a beta of 0.82. The firm has a fifty day moving average price of $55.46 and a 200 day moving average price of $57.45. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. Toronto-Dominion Bank has a 12 month low of $51.56 and a 12 month high of $65.12.

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be issued a dividend of $0.7482 per share. The ex-dividend date is Friday, January 10th. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.80%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 89.34%.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several large investors have recently modified their holdings of the stock. Dunhill Financial LLC lifted its position in Toronto-Dominion Bank by 164.9% in the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after purchasing an additional 249 shares during the period. Blue Trust Inc. lifted its holdings in shares of Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after buying an additional 212 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Toronto-Dominion Bank in the 2nd quarter valued at approximately $49,000. Morse Asset Management Inc purchased a new stake in shares of Toronto-Dominion Bank in the third quarter valued at approximately $63,000. Finally, Eastern Bank acquired a new position in Toronto-Dominion Bank during the third quarter worth $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.