Toronto-Dominion Bank (NYSE:TD) Reaches New 1-Year Low at $53.95

The Toronto-Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) shares reached a new 52-week low on Thursday . The stock traded as low as $53.95 and last traded at $54.01, with a volume of 1434661 shares. The stock had previously closed at $55.17.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. National Bank Financial lowered shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd. Jefferies Financial Group initiated coverage on Toronto-Dominion Bank in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. Cibc World Mkts upgraded Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. BMO Capital Markets dropped their target price on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, May 24th. Finally, Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.00.

View Our Latest Research Report on Toronto-Dominion Bank

Toronto-Dominion Bank Stock Down 1.6 %

The company has a market capitalization of $95.53 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.52 and a beta of 0.83. The stock’s fifty day moving average is $56.90 and its 200 day moving average is $59.47. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) last released its quarterly earnings data on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. The business had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Research analysts predict that The Toronto-Dominion Bank will post 5.86 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.45%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 68.64%.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of hedge funds have recently bought and sold shares of the company. Canoe Financial LP raised its position in Toronto-Dominion Bank by 2,035.4% in the fourth quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after acquiring an additional 40,803,711 shares during the period. Norges Bank bought a new position in shares of Toronto-Dominion Bank in the fourth quarter worth about $1,478,898,000. TD Asset Management Inc increased its holdings in Toronto-Dominion Bank by 28.9% in the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock worth $3,017,384,000 after acquiring an additional 10,415,591 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at $184,389,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Toronto-Dominion Bank by 20.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock valued at $1,039,691,000 after buying an additional 2,870,662 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Company Profile

(Get Free Report)

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.

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