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

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays downgraded Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Royal Bank of Canada cut their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, December 6th. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Finally, Jefferies Financial Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Down 1.4 %

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 stock has a market cap of $90.68 billion, a P/E ratio of 14.93, a PEG ratio of 1.69 and a beta of 0.82. The firm has a 50-day simple moving average of $55.85 and a two-hundred day simple moving average of $57.53.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be given a dividend of $0.7482 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. This represents a $2.99 annualized dividend and a yield of 5.78%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 89.34%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased 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 buying an additional 218,807 shares during the period. 1832 Asset Management L.P. increased its position in shares of Toronto-Dominion Bank by 6.0% in the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after purchasing an additional 1,462,794 shares during the period. CIBC Asset Management Inc increased its position in shares of Toronto-Dominion Bank by 5.4% in the third quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after purchasing an additional 853,313 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Toronto-Dominion Bank by 9.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock worth $759,449,000 after purchasing an additional 1,206,574 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after purchasing an additional 2,689,532 shares during the period. Institutional investors own 52.37% of the company’s stock.

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.