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 report report published on Saturday morning.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group downgraded Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Royal Bank Of Canada raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

TD opened at $93.06 on Friday. Toronto Dominion Bank has a twelve month low of $51.81 and a twelve month high of $93.81. The firm has a market capitalization of $157.23 billion, a PE ratio of 11.04, a PEG ratio of 1.29 and a beta of 0.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average price is $84.00 and its 200 day moving average price is $78.07.

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 analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. Toronto Dominion Bank’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, sell-side analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, January 9th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 dividend on an annualized basis and a yield of 4.6%. Toronto Dominion Bank’s dividend payout ratio is currently 35.82%.

Institutional Investors Weigh In On Toronto Dominion Bank

A number of institutional investors have recently made changes to their positions in TD. True Wealth Design LLC purchased a new position in shares of Toronto Dominion Bank during the 3rd quarter worth approximately $27,000. Mather Group LLC. acquired a new position in Toronto Dominion Bank during the third quarter worth $30,000. Quaker Wealth Management LLC boosted its position in shares of Toronto Dominion Bank by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 428 shares of the bank’s stock worth $31,000 after buying an additional 856 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Toronto Dominion Bank during the second quarter worth $32,000. Finally, Sachetta LLC acquired a new stake in shares of Toronto Dominion Bank in the third quarter valued at $33,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.