Toronto-Dominion Bank (TD) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a sell rating to a hold rating in a report issued on Friday.
According to Zacks, “Toronto Dominion Bank is a Canadian chartered bank and offers a wide range of business and consumer services. These services include checking and savings accounts, credit cards, mortgage and student loans,trusts, wills, estate planning,investment management services and financial and advisory services. “
Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Toronto-Dominion Bank from a hold rating to a sell rating in a research report on Wednesday, November 7th. TheStreet raised Toronto-Dominion Bank from a c+ rating to a b rating in a research report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $79.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 30th. The bank reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.43. The firm had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Toronto-Dominion Bank had a return on equity of 16.63% and a net margin of 21.82%. During the same quarter in the prior year, the business earned $1.51 earnings per share. Sell-side analysts anticipate that Toronto-Dominion Bank will post 4.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th were issued a dividend of $0.5144 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.73%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 49.06%.
Several hedge funds have recently modified their holdings of TD. First Manhattan Co. lifted its holdings in shares of Toronto-Dominion Bank by 106.9% during the third quarter. First Manhattan Co. now owns 1,970 shares of the bank’s stock worth $119,000 after buying an additional 1,018 shares during the last quarter. Huntington National Bank raised its stake in shares of Toronto-Dominion Bank by 216.9% in the third quarter. Huntington National Bank now owns 2,114 shares of the bank’s stock valued at $129,000 after purchasing an additional 1,447 shares in the last quarter. Destination Wealth Management acquired a new position in shares of Toronto-Dominion Bank in the second quarter valued at $139,000. Quad Cities Investment Group LLC acquired a new position in shares of Toronto-Dominion Bank in the second quarter valued at $139,000. Finally, Atlas Capital Advisors LLC raised its stake in shares of Toronto-Dominion Bank by 1,361.3% in the second quarter. Atlas Capital Advisors LLC now owns 2,455 shares of the bank’s stock valued at $142,000 after purchasing an additional 2,287 shares in the last quarter. Institutional investors own 47.18% of the company’s stock.
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. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large 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.
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