Toronto-Dominion Bank (NYSE:TD) Stock Rating Lowered by 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 note released on Tuesday.

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

Toronto-Dominion Bank Trading Up 0.6 %

Shares of TD opened at $58.21 on Tuesday. The company’s fifty day moving average is $55.86 and its 200 day moving average is $58.04. Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $66.15. The stock has a market capitalization of $101.71 billion, a PE ratio of 13.23, a P/E/G ratio of 1.58 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share 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 company had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s payout ratio is presently 67.73%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TD. Canoe Financial LP grew its holdings in Toronto-Dominion Bank by 2,035.4% during the 4th quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after acquiring an additional 40,803,711 shares in the last quarter. Norges Bank bought a new stake in shares of Toronto-Dominion Bank in the 4th quarter valued at about $1,478,898,000. TD Asset Management Inc boosted its holdings in shares of Toronto-Dominion Bank by 28.9% in the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after buying an additional 10,415,591 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Toronto-Dominion Bank in the 4th quarter valued at about $184,389,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Toronto-Dominion Bank by 31.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock valued at $549,550,000 after buying an additional 2,188,263 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

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.