Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 4,097,100 shares, a drop of 16.3% from the July 31st total of 4,897,400 shares. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 0.2% of the company’s shares are sold short.

Toronto-Dominion Bank stock traded up $0.16 during midday trading on Friday, reaching $56.70. 1,791,092 shares of the stock traded hands, compared to its average volume of 1,196,985. The company has a 50-day simple moving average of $55.67 and a two-hundred day simple moving average of $56.41. Toronto-Dominion Bank has a 12-month low of $47.73 and a 12-month high of $62.00. The firm has a market cap of $103.07 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 2.16 and a beta of 1.07. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 29th. The bank reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.45. The company had revenue of $10.50 billion during the quarter, compared to analysts’ expectations of $9.80 billion. Toronto-Dominion Bank had a return on equity of 16.08% and a net margin of 20.02%. Toronto-Dominion Bank’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.66 EPS. Equities research analysts anticipate that Toronto-Dominion Bank will post 5.14 earnings per share for the current year.

The business also recently disclosed a — dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a $0.556 dividend. This represents a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, October 9th. Toronto-Dominion Bank’s payout ratio is presently 44.93%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Advisors Inc. boosted its stake in shares of Toronto-Dominion Bank by 5.4% in the 2nd quarter. Cornerstone Advisors Inc. now owns 3,746 shares of the bank’s stock valued at $219,000 after buying an additional 193 shares during the period. Compagnie Lombard Odier SCmA boosted its stake in shares of Toronto-Dominion Bank by 8.6% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,714 shares of the bank’s stock valued at $158,000 after buying an additional 214 shares during the period. Private Advisor Group LLC boosted its stake in shares of Toronto-Dominion Bank by 0.8% in the 2nd quarter. Private Advisor Group LLC now owns 28,916 shares of the bank’s stock valued at $1,584,000 after buying an additional 220 shares during the period. BlackRock Inc. boosted its stake in shares of Toronto-Dominion Bank by 19.5% in the 2nd quarter. BlackRock Inc. now owns 1,386 shares of the bank’s stock valued at $81,000 after buying an additional 226 shares during the period. Finally, Eagle Ridge Investment Management boosted its stake in shares of Toronto-Dominion Bank by 0.3% in the 2nd quarter. Eagle Ridge Investment Management now owns 84,494 shares of the bank’s stock valued at $4,931,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 50.31% of the company’s stock.

A number of equities analysts recently commented on the company. BMO Capital Markets cut Toronto-Dominion Bank from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $85.00 to $78.00 in a report on Friday, August 30th. National Bank Financial set a $84.00 target price on Toronto-Dominion Bank and gave the company a “buy” rating in a report on Friday, August 30th. Bank of America cut Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and lowered their target price for the company from $82.00 to $77.00 in a report on Thursday, August 15th. CIBC set a $83.00 target price on Toronto-Dominion Bank and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $78.56.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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