Toronto Dominion Bank (NYSE:TD) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Toronto Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a report published on Saturday morning.

Several other research analysts also recently commented on TD. Natl Bk Canada raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Jefferies Financial Group lowered shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday. Finally, Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Price Performance

Shares of Toronto Dominion Bank stock opened at $92.81 on Friday. The firm has a market cap of $156.80 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.69. The firm’s 50-day simple moving average is $83.72 and its 200-day simple moving average is $77.85. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $93.30. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 earnings per share. As a group, research analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Friday, January 9th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, January 9th. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.7%. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 35.82%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Toronto Dominion Bank by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock valued at $5,677,291,000 after purchasing an additional 2,552,603 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Toronto Dominion Bank by 0.7% during the 3rd quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock worth $3,008,096,000 after buying an additional 246,999 shares in the last quarter. 1832 Asset Management L.P. increased its position in Toronto Dominion Bank by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank’s stock worth $1,656,213,000 after purchasing an additional 101,678 shares in the last quarter. Canerector Inc. grew its position in Toronto Dominion Bank by 11,028.0% during the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after acquiring an additional 22,056,000 shares during the last quarter. Finally, Norges Bank bought a new stake in Toronto Dominion Bank during the 2nd quarter worth $1,543,639,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.