Toronto-Dominion Bank (NYSE:TD) Stock Price Down 6.8%

The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD's share price traded down 6.8% on Friday . The company traded as low as $54.15 and last traded at $54.15. 4,979,305 shares traded hands during mid-day trading, an increase of 65% from the average session volume of 3,009,613 shares. The stock had previously closed at $58.08.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TD shares. Barclays started coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They set an "equal weight" rating for the company. Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a report on Thursday, February 22nd. They issued a "hold" rating on the stock. Finally, Scotiabank upgraded 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 given a buy rating to the company's stock. Based on data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of "Hold" and an average target price of $89.33.

Toronto-Dominion Bank Stock Performance

The company has a market capitalization of $96.37 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85. The company's fifty day simple moving average is $59.27 and its two-hundred day simple moving average is $60.06. 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 - Get Free Report) TSE: TD last posted its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. The business had revenue of $10.07 billion for the quarter, compared to analyst estimates of $9.35 billion. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. Equities research analysts predict that The Toronto-Dominion Bank will post 5.8 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th were issued a $0.7519 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.50%. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $0.75. The ex-dividend date was Monday, April 8th. Toronto-Dominion Bank's payout ratio is presently 30.56%.

Institutional Trading of Toronto-Dominion Bank

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

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