Toronto Dominion Bank (NYSE:TD) Upgraded to “Hold” at Wall Street Zen

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

TD has been the topic of several other reports. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Weiss Ratings raised Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Royal Bank Of Canada upped their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Finally, Keefe, Bruyette & Woods started coverage on shares of Toronto Dominion Bank in a research note on Friday. They set a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Trading Up 0.2%

Shares of TD stock opened at $117.13 on Friday. The stock has a market cap of $192.66 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.30 and a beta of 0.72. Toronto Dominion Bank has a 1 year low of $72.73 and a 1 year high of $125.46. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $120.49 and a 200 day simple moving average of $108.39.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company’s revenue was down 31.1% on a year-over-year basis. During the same quarter last year, the company earned $1.97 EPS. On average, research analysts predict that Toronto Dominion Bank will post 6.99 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, July 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is 49.14%.

Institutional Trading of Toronto Dominion Bank

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Toronto Dominion Bank in the fourth quarter valued at about $2,125,963,000. Auto Owners Insurance Co lifted its holdings in shares of Toronto Dominion Bank by 9,320.0% in the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock worth $396,544,000 after acquiring an additional 3,923,347 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Toronto Dominion Bank by 41.6% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock worth $1,121,660,000 after acquiring an additional 3,496,645 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at approximately $299,850,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Toronto Dominion Bank in the 2nd quarter valued at approximately $202,900,000. 52.37% of the stock is currently owned by institutional investors.

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.