Toronto-Dominion Bank (NYSE:TD) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group lowered shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a buy rating to a hold rating in a research report released on Tuesday, Marketbeat.com reports.

A number of other equities research analysts have also recently weighed in on TD. Royal Bank of Canada reduced their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research note on Friday, December 6th. Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Finally, Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $60.38 on Tuesday. 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 has a twelve month low of $51.25 and a twelve month high of $64.91. The stock has a 50 day moving average of $55.91 and a two-hundred day moving average of $57.51. The stock has a market cap of $105.68 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.94 and a beta of 0.84.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were issued a dividend of $0.7482 per share. This represents a $2.99 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Friday, January 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio is currently 84.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in Toronto-Dominion Bank by 5.6% during the fourth quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock worth $1,488,233,000 after acquiring an additional 1,491,472 shares during the period. Forum Financial Management LP grew its holdings in Toronto-Dominion Bank by 64.2% during the fourth quarter. Forum Financial Management LP now owns 18,711 shares of the bank’s stock worth $996,000 after acquiring an additional 7,313 shares during the period. Burgundy Asset Management Ltd. grew its holdings in Toronto-Dominion Bank by 137.3% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,258,881 shares of the bank’s stock worth $120,143,000 after acquiring an additional 1,306,946 shares during the period. Connecticut Wealth Management LLC grew its holdings in Toronto-Dominion Bank by 32.2% during the fourth quarter. Connecticut Wealth Management LLC now owns 4,664 shares of the bank’s stock worth $248,000 after acquiring an additional 1,136 shares during the period. Finally, Vident Advisory LLC grew its holdings in Toronto-Dominion Bank by 5.8% during the fourth quarter. Vident Advisory LLC now owns 4,535 shares of the bank’s stock worth $241,000 after acquiring an additional 249 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.