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

StockNews.com downgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a research report released on Thursday.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets decreased their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a market perform rating on the stock in a report on Friday, May 24th. Scotiabank upgraded shares of Toronto-Dominion Bank from a sector perform rating to a sector outperform rating in a report on Wednesday, April 17th. Barclays initiated coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They set an equal weight rating on the stock. 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. Finally, 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. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Toronto-Dominion Bank presently has an average rating of Hold and a consensus target price of $88.00.

Toronto-Dominion Bank Price Performance

TD opened at $54.87 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50-day moving average of $56.20 and a 200-day moving average of $59.04. Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $66.15. The company has a market capitalization of $95.87 billion, a P/E ratio of 12.47, a PEG ratio of 1.50 and a beta of 0.83.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 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 during the quarter, compared to analyst estimates of $9.90 billion. Equities analysts expect that Toronto-Dominion Bank will post 5.86 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given 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 yield of 5.40%. Toronto-Dominion Bank’s payout ratio is 68.64%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Toronto-Dominion Bank by 6.8% in the fourth 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. Cooper Financial Group raised its holdings in shares of Toronto-Dominion Bank by 2.4% during the 4th quarter. Cooper Financial Group now owns 8,120 shares of the bank’s stock valued at $525,000 after purchasing an additional 188 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Toronto-Dominion Bank by 5,032.5% in the 4th quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 15,500 shares during the last quarter. CWM LLC boosted its holdings in Toronto-Dominion Bank by 15.2% in the fourth quarter. CWM LLC now owns 6,528 shares of the bank’s stock worth $422,000 after purchasing an additional 863 shares in the last quarter. Finally, Schechter Investment Advisors LLC increased its position in Toronto-Dominion Bank by 6.0% during the fourth quarter. Schechter Investment Advisors LLC now owns 7,697 shares of the bank’s stock worth $497,000 after buying an additional 434 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

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.