Toronto-Dominion Bank (NYSE:TD) Short Interest Update

The Toronto-Dominion Bank (NYSE:TD - Get Free Report) and TSE: TD experienced a significant increase in short interest during March. As of March 15th, the total short interest rose to 17,850,000 shares, marking a 52.3% increase from the February 28th total of 11,720,000 shares. Currently, about 1.0% of the bank's shares are sold short. Given an average daily trading volume of 2,200,000 shares, the days-to-cover ratio stands at 8.1 days.

Institutional Trading of Toronto-Dominion Bank

Recently, various hedge funds and institutional investors have been active in buying and selling shares of TD. For instance, Asahi Life Asset Management CO. LTD. acquired a new position in the Toronto-Dominion Bank in the fourth quarter, investing approximately $416,000. Cerity Partners LLC increased its stake in TD by 57.1% during the third quarter and now possesses 26,755 shares worth $1,693,000. Similarly, FMR LLC raised its holdings in TD by 9.9% during the same period and now owns 6,553,761 shares valued at around $414,417,000. Vanguard Group Inc. also saw growth in its position in TD, increasing its investment by 1.9% in the fourth quarter to hold 74,118,551 shares worth $3,946,072,000. Additionally, Nicola Wealth Management LTD. raised its ownership by 15.5% in the fourth quarter, now holding 510,002 shares valued at $27,153,000. Overall, institutional investors and hedge funds own approximately 52.37% of TD's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently released reports concerning TD. Scotiabank downgraded Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating on December 6th. Likewise, Jefferies Financial Group lowered its rating from "buy" to "hold" on February 18th. Desjardins also cut its rating from "buy" to "hold" on December 6th. However, Bank of America raised its rating from "neutral" to "buy" on January 17th, and BMO Capital Markets upgraded its rating from "market perform" to "outperform" on December 19th. Currently, two research analysts classify the stock with a sell rating, six view it as a hold, two have given it a buy rating, and one has assigned a strong buy rating. According to MarketBeat, the average rating for Toronto-Dominion Bank is "Hold" with a consensus target price of $80.50.

Toronto-Dominion Bank Stock Performance

On a recent trading day, TD's stock fell by $0.65 to reach $60.31. A total of 4,689,721 shares changed hands, outpacing its average trading volume of 2,563,599. The bank's financial ratios indicate a debt-to-equity ratio of 0.11, a current ratio of 1.03, and a quick ratio of 1.03. Over the past year, TD has seen a low of $51.25 and a high of $64.91. The fifty-day simple moving average stands at $58.99, while the 200-day simple moving average is at $57.61. Currently, the market capitalization of Toronto-Dominion Bank is $105.68 billion, with a P/E ratio of 17.38 and a price-to-earnings-growth ratio of 1.95; it reports a beta of 0.83.

Toronto-Dominion Bank Dividend Announcement

The Toronto-Dominion Bank has also declared a quarterly dividend, scheduled to be paid on April 30th. Shareholders who hold stock as of April 10th will receive a dividend of $0.7278. The ex-dividend date is also April 10th, resulting in an annualized dividend of $2.91, which corresponds to a dividend yield of 4.83%. The bank's payout ratio currently stands at 85.29%.

Company Overview

The Toronto-Dominion Bank, along with its subsidiaries, offers a variety of financial products and services both in Canada and internationally. The bank operates through four main segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

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