Toronto-Dominion Bank (NYSE:TD) Cut to Sell at StockNews.com

StockNews.com cut 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 Thursday.

A number of other analysts also recently issued reports on the company. BMO Capital Markets reduced their price objective on 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. Cibc World Mkts raised Toronto-Dominion Bank from a hold rating to a strong-buy rating in a research note on Friday, May 24th. National Bank Financial downgraded Toronto-Dominion Bank from a sector perform rating to an underperform rating in a research note on Thursday, May 23rd. Scotiabank raised Toronto-Dominion Bank from a sector perform rating to a sector outperform rating in a research note on Wednesday, April 17th. Finally, Barclays started coverage on Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an equal weight rating on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $88.00.

Toronto-Dominion Bank Stock Up 0.2 %

Shares of TD opened at $54.96 on Thursday. The business’s 50 day moving average is $56.09 and its 200 day moving average is $58.97. The company has a market capitalization of $96.03 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.51 and a beta of 0.83. Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $66.15. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11.

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

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 68.64%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several large investors have recently modified their holdings of TD. Keynote Financial Services LLC purchased a new position in Toronto-Dominion Bank during the 1st quarter valued at $396,000. Pathway Financial Advisers LLC purchased a new position in Toronto-Dominion Bank during the 1st quarter valued at $1,882,000. Cetera Advisors LLC boosted its holdings in Toronto-Dominion Bank by 217.1% during the 1st quarter. Cetera Advisors LLC now owns 34,664 shares of the bank’s stock valued at $2,093,000 after acquiring an additional 23,732 shares during the period. Cetera Investment Advisers boosted its holdings in 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 acquiring an additional 47,477 shares during the period. Finally, LRI Investments LLC purchased a new position in Toronto-Dominion Bank during the 1st quarter valued at $1,388,000. Institutional investors 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.