Toronto-Dominion Bank (NYSE:TD) Sets New 12-Month Low – Here’s What Happened

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) hit a new 52-week low on Wednesday . The company 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday. Jefferies Financial Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

The firm has a market cap of $91.45 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The stock’s fifty day moving average price is $55.46 and its 200-day moving average price is $57.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02.

Toronto-Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be issued a $0.7482 dividend. This represents a $2.99 dividend on an annualized basis and a yield of 5.73%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is 89.34%.

Institutional Trading of Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently made changes to their positions in TD. Wilmington Savings Fund Society FSB purchased a new stake in Toronto-Dominion Bank during the 3rd quarter worth about $247,000. World Investment Advisors LLC purchased a new position in Toronto-Dominion Bank in the 3rd quarter valued at about $265,000. Tudor Financial Inc. acquired a new stake in Toronto-Dominion Bank in the third quarter valued at $268,000. Passumpsic Savings Bank raised its position in shares of Toronto-Dominion Bank by 2.6% during the 3rd quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank’s stock valued at $476,000 after acquiring an additional 194 shares in the last quarter. Finally, Main Line Retirement Advisors LLC boosted its holdings in shares of Toronto-Dominion Bank by 1.3% during the third quarter. Main Line Retirement Advisors LLC now owns 24,180 shares of the bank’s stock valued at $1,530,000 after acquiring an additional 314 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto-Dominion Bank

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.