Toronto-Dominion Bank (NYSE:TD) Raised 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 released on Wednesday morning.

Several other brokerages also recently weighed in on TD. Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. 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, Jefferies Financial Group raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. One equities 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Stock Up 0.3 %

Shares of NYSE TD opened at $57.47 on Wednesday. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $54.75 and its 200-day moving average price is $57.38. The stock has a market capitalization of $100.59 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 1.82 and a beta of 0.84.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were paid a $0.7482 dividend. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date was Friday, January 10th. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.21%. Toronto-Dominion Bank’s dividend payout ratio is presently 84.15%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in Toronto-Dominion Bank by 24.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after acquiring an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Toronto-Dominion Bank by 61.1% in the third 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 purchasing an additional 2,279,864 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Toronto-Dominion Bank by 175.5% during the 3rd quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after buying an additional 1,571,700 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Toronto-Dominion Bank by 64.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock valued at $143,922,000 after purchasing an additional 892,183 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Toronto-Dominion Bank by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock valued at $1,046,825,000 after buying an additional 853,313 shares during the period. 52.37% of the stock is owned by hedge funds and other 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.