Toronto-Dominion Bank (NYSE:TD) Reaches New 52-Week Low at $56.98

The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $56.98 and last traded at $57.40, with a volume of 910467 shares. The stock had previously closed at $59.25.

Wall Street Analyst Weigh In

TD has been the topic of several research reports. Canaccord Genuity Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$95.00 to C$103.00 in a report on Monday, December 5th. Desjardins raised their price objective on Toronto-Dominion Bank from C$105.00 to C$106.00 in a report on Tuesday, February 7th. StockNews.com initiated coverage on Toronto-Dominion Bank in a report on Thursday. They set a “sell” rating on the stock. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Friday, March 3rd. Finally, National Bank Financial reduced their price objective on Toronto-Dominion Bank from C$106.00 to C$103.00 in a report on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Toronto-Dominion Bank Price Performance

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $105.83 billion, a P/E ratio of 9.14, a PEG ratio of 1.11 and a beta of 0.90. The firm has a 50-day simple moving average of $66.24 and a 200-day simple moving average of $65.22.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th will be given a dividend of $0.721 per share. This represents a $2.88 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Wednesday, April 5th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 44.71%.

Institutional Trading of Toronto-Dominion Bank

A number of institutional investors have recently made changes to their positions in the business. Fairfield Bush & CO. acquired a new stake in Toronto-Dominion Bank during the 1st quarter worth about $26,000. BlackRock Inc. lifted its position in Toronto-Dominion Bank by 6.3% during the 1st quarter. BlackRock Inc. now owns 914,064 shares of the bank’s stock worth $72,595,000 after acquiring an additional 54,121 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in Toronto-Dominion Bank during the 1st quarter worth about $200,000. Raymond James Trust N.A. lifted its position in Toronto-Dominion Bank by 1.7% during the 1st quarter. Raymond James Trust N.A. now owns 9,868 shares of the bank’s stock worth $784,000 after acquiring an additional 161 shares during the period. Finally, Cetera Investment Advisers lifted its position in Toronto-Dominion Bank by 21.8% during the 1st quarter. Cetera Investment Advisers now owns 12,022 shares of the bank’s stock worth $955,000 after acquiring an additional 2,154 shares during the period. Institutional investors and hedge funds own 49.22% of the company’s stock.

About Toronto-Dominion Bank

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The Toronto-Dominion Bank engages in the provision of financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.