Toronto-Dominion Bank (NYSE:TD) Sets New 12-Month Low at $56.98

The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD)’s share price hit a new 52-week low on Wednesday . The company traded as low as $56.98 and last traded at $57.40, with a volume of 910467 shares changing hands. The stock had previously closed at $59.25.

Wall Street Analysts Forecast Growth

TD has been the topic of a number of research analyst reports. Canaccord Genuity Group upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and increased their price objective for the company from C$95.00 to C$103.00 in a research report on Monday, December 5th. National Bank Financial lowered their price objective on shares of Toronto-Dominion Bank from C$106.00 to C$103.00 in a research report on Friday, November 18th. StockNews.com assumed coverage on shares of Toronto-Dominion Bank in a research report on Thursday. They issued a “sell” rating on the stock. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, March 3rd. Finally, Credit Suisse Group upped their price target on Toronto-Dominion Bank from C$96.00 to C$98.00 in a research report on Friday, December 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Toronto-Dominion Bank Price Performance

The company has a market cap of $105.83 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s fifty day moving average is $66.24 and its two-hundred day moving average is $65.22.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be issued a $0.721 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $2.88 annualized dividend and a yield of 4.99%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. Toronto-Dominion Bank’s dividend payout ratio is currently 44.71%.

Institutional Trading of Toronto-Dominion Bank

Several hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its stake in Toronto-Dominion Bank by 4.2% in the 4th quarter. CWM LLC now owns 3,631 shares of the bank’s stock worth $235,000 after purchasing an additional 148 shares in the last quarter. Raymond James Trust N.A. lifted its stake in Toronto-Dominion Bank by 1.7% in the 1st quarter. Raymond James Trust N.A. now owns 9,868 shares of the bank’s stock worth $784,000 after purchasing an additional 161 shares in the last quarter. Fifth Third Bancorp lifted its stake in Toronto-Dominion Bank by 15.9% in the 4th quarter. Fifth Third Bancorp now owns 1,208 shares of the bank’s stock worth $78,000 after purchasing an additional 166 shares in the last quarter. Blue Chip Partners Inc. lifted its stake in Toronto-Dominion Bank by 3.8% in the 3rd quarter. Blue Chip Partners Inc. now owns 4,664 shares of the bank’s stock worth $286,000 after purchasing an additional 171 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in Toronto-Dominion Bank by 6.5% in the 4th quarter. Private Trust Co. NA now owns 2,795 shares of the bank’s stock worth $181,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors 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.