Toronto-Dominion Bank (NYSE:TD) Cut to Sell at StockNews.com

StockNews.com downgraded 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 Monday.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reduced their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Trading Up 0.2 %

Toronto-Dominion Bank stock opened at $59.69 on Monday. The firm has a 50 day simple moving average of $56.46 and a 200-day simple moving average of $57.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $104.59 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were given a dividend of $0.7482 per share. This represents a $2.99 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Friday, January 10th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s payout ratio is currently 83.86%.

Institutional Trading of Toronto-Dominion Bank

A number of hedge funds have recently modified their holdings of the company. Cerity Partners LLC increased its position in shares of Toronto-Dominion Bank by 57.1% during the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock worth $1,693,000 after purchasing an additional 9,725 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Toronto-Dominion Bank by 1.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after purchasing an additional 144,427 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after buying an additional 2,279,864 shares during the period. Galibier Capital Management Ltd. grew its holdings in Toronto-Dominion Bank by 24.6% during the third quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after purchasing an additional 119,978 shares during the period. Finally, FMR LLC increased its position in shares of Toronto-Dominion Bank by 9.9% in the 3rd quarter. FMR LLC now owns 6,553,761 shares of the bank’s stock valued at $414,417,000 after buying an additional 587,947 shares in the last quarter. Institutional investors 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.