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

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) has received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $80.50.

TD has been the subject of a number of analyst reports. Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating 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 research report on Thursday, December 19th. Finally, Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dunhill Financial LLC grew its stake in Toronto-Dominion Bank by 164.9% during the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after buying an additional 249 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Toronto-Dominion Bank during the fourth quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new position in shares of Toronto-Dominion Bank in the 4th quarter valued at approximately $32,000. CoreCap Advisors LLC boosted its stake in Toronto-Dominion Bank by 57.5% in the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank’s stock worth $34,000 after purchasing an additional 230 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in 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 purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

NYSE:TD opened at $60.95 on Friday. The business’s 50-day moving average is $58.71 and its 200 day moving average is $57.62. Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The company has a market capitalization of $106.80 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 85.29%.

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.