Stock Traders Purchase Large Volume of Call Options on Toronto-Dominion Bank (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was the target of unusually large options trading activity on Thursday. Investors acquired 3,546 call options on the stock. This represents an increase of 29% compared to the typical daily volume of 2,755 call options.

Analyst Upgrades and Downgrades

TD has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday. Finally, Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $80.50.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several institutional investors and hedge funds have recently made changes to their positions in TD. Cetera Investment Advisers boosted its stake in shares of Toronto-Dominion Bank by 173.2% during the 1st quarter. Cetera Investment Advisers now owns 74,887 shares of the bank’s stock valued at $4,522,000 after buying an additional 47,477 shares during the last quarter. CWM LLC lifted its stake in Toronto-Dominion Bank by 7.6% during the second quarter. CWM LLC now owns 7,038 shares of the bank’s stock worth $387,000 after purchasing an additional 496 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in Toronto-Dominion Bank by 19.4% during the second quarter. Linden Thomas Advisory Services LLC now owns 4,432 shares of the bank’s stock worth $244,000 after purchasing an additional 720 shares during the last quarter. Simplicity Wealth LLC lifted its stake in Toronto-Dominion Bank by 9.3% during the second quarter. Simplicity Wealth LLC now owns 7,966 shares of the bank’s stock worth $438,000 after purchasing an additional 676 shares during the last quarter. Finally, Cardinal Capital Management lifted its stake in Toronto-Dominion Bank by 2.9% during the second quarter. Cardinal Capital Management now owns 43,878 shares of the bank’s stock worth $2,412,000 after purchasing an additional 1,222 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Down 1.6 %

Shares of NYSE:TD opened at $51.95 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. Toronto-Dominion Bank has a 52-week low of $51.74 and a 52-week high of $65.12. The company has a 50 day moving average of $57.53 and a two-hundred day moving average of $57.67. The company has a market capitalization of $90.92 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be paid a dividend of $0.7482 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 annualized dividend and a dividend yield of 5.76%. The ex-dividend date is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is 96.17%.

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.