Toronto-Dominion Bank (NYSE:TD) Downgraded by StockNews.com

StockNews.com lowered shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

A number of other research analysts have also weighed in on the stock. Cibc World Mkts raised shares of Toronto-Dominion Bank from a hold rating to a strong-buy rating in a research note on Friday, May 24th. Scotiabank raised shares of Toronto-Dominion Bank from a sector perform rating to a sector outperform rating in a research note on Wednesday, April 17th. UBS Group began coverage on shares of Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a neutral rating on the stock. BMO Capital Markets decreased their price target on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a market perform rating on the stock in a research note on Friday, May 24th. Finally, National Bank Financial lowered shares of Toronto-Dominion Bank from a sector perform rating to an underperform rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank currently has an average rating of Hold and an average price target of $88.00.

Toronto-Dominion Bank Trading Up 0.7 %

TD stock opened at $57.90 on Tuesday. The company’s 50-day simple moving average is $55.84 and its 200-day simple moving average is $58.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $66.15. The firm has a market cap of $101.17 billion, a P/E ratio of 13.16, a PEG ratio of 1.58 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The business had revenue of $10.18 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, equities analysts forecast that Toronto-Dominion Bank will post 5.86 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.11%. Toronto-Dominion Bank’s dividend payout ratio is currently 67.73%.

Institutional Trading of Toronto-Dominion Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Toronto-Dominion Bank by 6.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,044,900 shares of the bank’s stock worth $132,141,000 after buying an additional 130,801 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Toronto-Dominion Bank by 2.7% during the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock worth $83,881,000 after buying an additional 37,002 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth approximately $6,454,000. FORA Capital LLC acquired a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth approximately $4,025,000. Finally, V Square Quantitative Management LLC increased its holdings in shares of Toronto-Dominion Bank by 5,032.5% during the 4th quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock worth $1,022,000 after buying an additional 15,500 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.