Toronto-Dominion Bank (NYSE:TD) Cut to Sector Perform at Scotiabank

Scotiabank cut shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a sector outperform rating to a sector perform rating in a research report sent to investors on Friday, MarketBeat.com reports.

A number of other analysts also recently commented on TD. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Stock Down 1.6 %

Toronto-Dominion Bank stock opened at $51.96 on Friday. The stock’s 50 day moving average price is $57.30 and its 200 day moving average price is $57.65. The company has a market cap of $90.94 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. Toronto-Dominion Bank has a 1-year low of $51.74 and a 1-year high of $65.12.

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be given a dividend of $0.7482 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. This represents a $2.99 annualized dividend and a yield of 5.76%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 87.03%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its holdings in shares of Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after buying an additional 249 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Toronto-Dominion Bank in the second quarter worth approximately $31,000. Blue Trust Inc. boosted its holdings in shares of Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after purchasing an additional 212 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in Toronto-Dominion Bank during the second quarter valued at about $49,000. Finally, Morse Asset Management Inc purchased a new position in shares of Toronto-Dominion Bank in the 3rd quarter worth about $63,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto-Dominion Bank

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.