Brokerages Set The Toronto-Dominion Bank (NYSE:TD) Target Price at $80.50

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) have received a consensus rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $80.50.

Several equities research analysts have issued reports on the company. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. StockNews.com raised Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada reduced their target price on shares of 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.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $57.47 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The firm has a fifty day moving average of $54.75 and a 200-day moving average of $57.38. The firm has a market capitalization of $100.59 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.82 and a beta of 0.84.

Toronto-Dominion Bank Increases Dividend

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

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of institutional investors have recently bought and sold shares of TD. CWM LLC raised its stake in Toronto-Dominion Bank by 2.4% in the 3rd quarter. CWM LLC now owns 7,208 shares of the bank’s stock valued at $456,000 after acquiring an additional 170 shares during the period. Pathstone Holdings LLC increased its holdings in shares of Toronto-Dominion Bank by 0.8% in the third quarter. Pathstone Holdings LLC now owns 22,309 shares of the bank’s stock valued at $1,411,000 after purchasing an additional 184 shares during the last quarter. Passumpsic Savings Bank raised its position in shares of Toronto-Dominion Bank by 2.6% in the third quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank’s stock valued at $476,000 after purchasing an additional 194 shares during the period. Versant Capital Management Inc lifted its stake in shares of Toronto-Dominion Bank by 40.0% during the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after buying an additional 200 shares during the last quarter. Finally, Cardinal Capital Management boosted its holdings in shares of Toronto-Dominion Bank by 0.5% during the 4th quarter. Cardinal Capital Management now owns 44,685 shares of the bank’s stock worth $2,379,000 after buying an additional 205 shares during the period. Institutional investors and hedge funds 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.