Toronto Dominion Bank (NYSE:TD) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Toronto Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a research note issued to investors on Sunday morning.

Several other research firms have also recently weighed in on TD. Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group downgraded shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Toronto Dominion Bank has an average rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Trading Down 0.7%

Shares of NYSE TD opened at $95.15 on Friday. The firm’s 50 day moving average price is $94.76 and its 200-day moving average price is $85.20. Toronto Dominion Bank has a 52-week low of $54.87 and a 52-week high of $99.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $159.02 billion, a PE ratio of 11.29, a P/E/G ratio of 1.28 and a beta of 0.67.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $10.10 billion. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.Toronto Dominion Bank’s revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $1.72 earnings per share. On average, equities 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 was paid on Saturday, January 31st. Investors of record on Friday, January 9th were paid a dividend of $1.08 per share. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, January 9th. This represents a $4.32 annualized dividend and a yield of 4.5%. Toronto Dominion Bank’s dividend payout ratio is 37.25%.

Institutional Investors Weigh In On Toronto Dominion Bank

Institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its position in shares of Toronto Dominion Bank by 18.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock valued at $917,832,000 after acquiring an additional 1,946,172 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Toronto Dominion Bank by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock valued at $1,010,852,000 after purchasing an additional 115,203 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Toronto Dominion Bank during the second quarter valued at $267,475,000. Bank of New York Mellon Corp grew its stake in shares of Toronto Dominion Bank by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock worth $121,791,000 after buying an additional 51,698 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its stake in shares of Toronto Dominion Bank by 304.0% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 2,446,307 shares of the bank’s stock worth $180,047,000 after buying an additional 1,840,747 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Company Profile

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.