Toronto-Dominion Bank (NYSE:TD) Upgraded at StockNews.com

StockNews.com upgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a sell rating to a hold rating in a research note published on Wednesday.

A number of other equities research analysts have also recently issued reports on TD. Scotiabank raised shares of Toronto-Dominion Bank from a sector perform rating to a sector outperform rating in a report on Wednesday, April 17th. UBS Group began coverage on Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They set a neutral rating for the company. Cibc World Mkts upgraded Toronto-Dominion Bank from a hold rating to a strong-buy rating in a research note on Friday, May 24th. National Bank Financial cut shares of Toronto-Dominion Bank from a sector perform rating to an underperform rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets dropped their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a market perform rating on the stock in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $88.00.

Toronto-Dominion Bank Stock Up 0.8 %

Shares of TD stock opened at $58.98 on Wednesday. Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $56.35 and a 200-day moving average of $57.72. The company has a market capitalization of $103.12 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.59 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The business had revenue of $10.18 billion for the quarter, compared to analyst estimates of $9.90 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. As a group, equities research analysts predict that Toronto-Dominion Bank will post 5.87 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 5.02%. The ex-dividend date was Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 67.73%.

Institutional Trading of Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Toronto-Dominion Bank in the 4th quarter worth about $2,961,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Toronto-Dominion Bank by 13.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,389 shares of the bank’s stock worth $3,062,000 after purchasing an additional 5,614 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Toronto-Dominion Bank by 39.1% during the fourth quarter. Cerity Partners LLC now owns 21,710 shares of the bank’s stock valued at $1,403,000 after buying an additional 6,106 shares during the last quarter. Simplicity Solutions LLC grew its holdings in Toronto-Dominion Bank by 14.1% during the fourth quarter. Simplicity Solutions LLC now owns 7,073 shares of the bank’s stock worth $457,000 after buying an additional 872 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Toronto-Dominion Bank by 18.2% during the 4th quarter. Vontobel Holding Ltd. now owns 129,919 shares of the bank’s stock valued at $8,395,000 after acquiring an additional 20,023 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

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.