The Toronto-Dominion Bank (NYSE:TD) Short Interest Up 77.8% in December

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 22,560,000 shares, a growth of 77.8% from the December 15th total of 12,690,000 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 2,870,000 shares, the days-to-cover ratio is currently 7.9 days.

Toronto-Dominion Bank Stock Up 3.9 %

Shares of Toronto-Dominion Bank stock traded up $2.17 during trading hours on Friday, hitting $57.49. The company had a trading volume of 7,300,272 shares, compared to its average volume of 3,605,112. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day moving average is $54.47 and its two-hundred day moving average is $57.29. The company has a market cap of $100.63 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.83. Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be issued a dividend of $0.7482 per share. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. This represents a $2.99 annualized dividend and a dividend yield of 5.21%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 87.03%.

Institutional Trading of Toronto-Dominion Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. Dunhill Financial LLC boosted its stake in Toronto-Dominion Bank by 164.9% during the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after purchasing an additional 249 shares during the period. Versant Capital Management Inc boosted its stake in shares of Toronto-Dominion Bank by 40.0% during the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after buying an additional 200 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Toronto-Dominion Bank during the second quarter worth about $49,000. Morse Asset Management Inc acquired a new position in Toronto-Dominion Bank in the 3rd quarter valued at about $63,000. Finally, Eastern Bank acquired a new position in Toronto-Dominion Bank in the 3rd quarter valued at about $66,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

About Toronto-Dominion Bank

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.