Toronto-Dominion Bank (NYSE:TD) Reaches New 1-Year Low – Here’s Why

Shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $51.63 and last traded at $51.89, with a volume of 1610853 shares traded. The stock had previously closed at $52.55.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TD shares. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada cut their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

The business has a 50-day moving average price of $55.46 and a 200 day moving average price of $57.45. The stock has a market cap of $91.45 billion, a PE ratio of 15.06, a PEG ratio of 1.69 and a beta of 0.82. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Increases Dividend

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

Hedge Funds Weigh In On Toronto-Dominion Bank

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

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.