The Toronto-Dominion Bank (NYSE:TD) Short Interest Update

The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 37,920,000 shares, a growth of 112.4% from the March 15th total of 17,850,000 shares. Based on an average daily trading volume, of 2,370,000 shares, the days-to-cover ratio is presently 16.0 days. Approximately 2.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TD. StockNews.com downgraded shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research report on Monday, February 24th. Jefferies Financial Group lowered Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, Bank of America raised Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of "Hold" and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Performance

TD stock traded up $0.19 during midday trading on Monday, reaching $60.89. 1,344,675 shares of the company were exchanged, compared to its average volume of 2,369,586. Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91. The firm has a market capitalization of $106.70 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The business has a 50-day moving average price of $59.25 and a two-hundred day moving average price of $57.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be issued a $0.7278 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a yield of 4.78%. Toronto-Dominion Bank's payout ratio is 85.59%.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of institutional investors have recently modified their holdings of TD. Norges Bank purchased a new position in shares of Toronto-Dominion Bank in the fourth quarter worth about $992,204,000. FIL Ltd boosted its holdings in Toronto-Dominion Bank by 17.3% in the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock valued at $2,075,819,000 after acquiring an additional 5,756,584 shares in the last quarter. Geode Capital Management LLC grew its stake in Toronto-Dominion Bank by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock worth $569,878,000 after purchasing an additional 2,564,648 shares during the period. Mackenzie Financial Corp grew its stake in shares of Toronto-Dominion Bank by 5.6% in the fourth quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock worth $1,488,233,000 after acquiring an additional 1,491,472 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after purchasing an additional 1,415,934 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

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.