Short Interest in The Toronto-Dominion Bank (NYSE:TD) Rises By 52.3%

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 17,850,000 shares, an increase of 52.3% from the February 28th total of 11,720,000 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 2,200,000 shares, the short-interest ratio is presently 8.1 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TD shares. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada dropped their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Trading Down 0.6 %

TD stock traded down $0.34 during trading on Monday, hitting $59.96. 1,572,768 shares of the company traded hands, compared to its average volume of 2,559,653. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day moving average of $58.99 and a 200-day moving average of $57.61. The firm has a market capitalization of $105.06 billion, a PE ratio of 17.28, a P/E/G ratio of 1.95 and a beta of 0.83. Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a $0.7278 dividend. This represents a $2.91 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s payout ratio is 85.29%.

Institutional Investors Weigh In On Toronto-Dominion Bank

A number of large investors have recently added to or reduced their stakes in TD. Cerity Partners LLC increased its holdings in Toronto-Dominion Bank by 57.1% during the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock valued at $1,693,000 after purchasing an additional 9,725 shares during the period. FMR LLC raised its holdings in shares of Toronto-Dominion Bank by 9.9% during the third quarter. FMR LLC now owns 6,553,761 shares of the bank’s stock valued at $414,417,000 after acquiring an additional 587,947 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Toronto-Dominion Bank by 2.6% in the third quarter. D.A. Davidson & CO. now owns 11,904 shares of the bank’s stock worth $753,000 after acquiring an additional 304 shares during the period. Townsquare Capital LLC bought a new stake in Toronto-Dominion Bank in the third quarter valued at $612,000. Finally, Glenmede Trust Co. NA raised its holdings in Toronto-Dominion Bank by 13.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,181 shares of the bank’s stock worth $644,000 after purchasing an additional 1,195 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

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.