Toronto-Dominion Bank (NYSE:TD) Stock Price Down 0.7%

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD)’s stock price dropped 0.7% on Wednesday . The stock traded as low as $56.33 and last traded at $56.49. Approximately 223,868 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,972,469 shares. The stock had previously closed at $56.86.

Analysts Set New Price Targets

A number of analysts have recently commented on TD shares. Jefferies Financial Group assumed coverage on Toronto-Dominion Bank in a research note on Thursday, February 22nd. They issued a “hold” rating for the company. Barclays began coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Finally, Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.33.

Toronto-Dominion Bank Stock Down 1.3 %

The firm has a market capitalization of $98.71 billion, a P/E ratio of 12.07, a PEG ratio of 1.75 and a beta of 0.84. The firm’s 50-day moving average is $58.31 and its 200 day moving average is $60.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. The company had revenue of $10.07 billion during the quarter, compared to analysts’ expectations of $9.35 billion. As a group, equities research analysts predict that The Toronto-Dominion Bank will post 5.76 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.7519 per share. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, April 8th. This represents a $3.01 annualized dividend and a dividend yield of 5.36%. Toronto-Dominion Bank’s payout ratio is 64.53%.

Institutional Trading of Toronto-Dominion Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in shares of Toronto-Dominion Bank in the 1st quarter valued at about $29,000. LifeSteps Financial Inc. acquired a new stake in Toronto-Dominion Bank during the first quarter worth approximately $30,000. Bank of New Hampshire bought a new position in Toronto-Dominion Bank during the 4th quarter worth $32,000. Avior Wealth Management LLC raised its holdings in Toronto-Dominion Bank by 92.9% in the 4th quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock valued at $38,000 after acquiring an additional 286 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new stake in shares of Toronto-Dominion Bank in the 4th quarter valued at approximately $39,000. 52.37% of the stock is owned by institutional investors.

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.