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 report published on Saturday.

Several other analysts also recently weighed in on the company. Zacks Research upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock opened at $102.06 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $170.03 billion, a P/E ratio of 11.28, a PEG ratio of 1.15 and a beta of 0.65. The stock’s 50 day moving average is $95.89 and its 200 day moving average is $90.03. Toronto Dominion Bank has a twelve month low of $58.78 and a twelve month high of $102.08.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.13. The company had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.02 EPS. On average, equities research analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 9th will be given a $1.08 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 annualized dividend and a yield of 4.2%. Toronto Dominion Bank’s dividend payout ratio is 34.36%.

Hedge Funds Weigh In On Toronto Dominion Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Purpose Unlimited Inc. bought a new position in Toronto Dominion Bank in the 4th quarter valued at approximately $47,488,000. Rockefeller Capital Management L.P. lifted its position in Toronto Dominion Bank by 20.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 25,384 shares of the bank’s stock valued at $2,391,000 after acquiring an additional 4,345 shares in the last quarter. World Investment Advisors lifted its position in Toronto Dominion Bank by 38.1% in the 4th quarter. World Investment Advisors now owns 10,199 shares of the bank’s stock valued at $961,000 after acquiring an additional 2,813 shares in the last quarter. Auto Owners Insurance Co lifted its position in Toronto Dominion Bank by 9,320.0% in the 4th quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock valued at $396,544,000 after acquiring an additional 3,923,347 shares in the last quarter. Finally, Bayban bought a new position in Toronto Dominion Bank in the 4th quarter valued at approximately $28,000. 52.37% of the stock is owned by 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.