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

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

A number of other analysts also recently commented on TD. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Royal Bank of Canada lowered their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Finally, Barclays downgraded Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $52.55 on Tuesday. The business’s fifty day moving average price is $55.85 and its two-hundred day moving average price is $57.53. The firm has a market capitalization of $91.98 billion, a PE ratio of 15.14, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 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 company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be paid a $0.7482 dividend. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.69%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 89.34%.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Toronto-Dominion Bank during the second quarter worth approximately $130,000. Blue Trust Inc. grew its holdings in Toronto-Dominion Bank by 50.7% during the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after acquiring an additional 212 shares during the last quarter. Eagle Ridge Investment Management increased its position in Toronto-Dominion Bank by 3.1% in the 2nd quarter. Eagle Ridge Investment Management now owns 138,146 shares of the bank’s stock valued at $7,593,000 after acquiring an additional 4,128 shares in the last quarter. Cypress Capital Group lifted its position in shares of Toronto-Dominion Bank by 7.1% during the second quarter. Cypress Capital Group now owns 5,536 shares of the bank’s stock worth $304,000 after purchasing an additional 365 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of Toronto-Dominion Bank by 7.1% during the second quarter. Verdence Capital Advisors LLC now owns 4,700 shares of the bank’s stock valued at $258,000 after purchasing an additional 311 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.