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

StockNews.com cut 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 Tuesday morning.

Several other brokerages also recently issued reports on TD. Royal Bank of Canada lowered their price target on shares of 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. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Jefferies Financial Group upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Finally, National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Trading Down 0.5 %

TD opened at $51.56 on Tuesday. The company’s 50 day moving average is $55.46 and its 200-day moving average is $57.45. The company has a market cap of $90.24 billion, a P/E ratio of 14.86, a PEG ratio of 1.69 and a beta of 0.82. Toronto-Dominion Bank has a 1-year low of $51.56 and a 1-year high of $65.12. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be given a dividend of $0.7482 per share. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. This represents a $2.99 annualized dividend and a dividend yield of 5.80%. Toronto-Dominion Bank’s dividend payout ratio is presently 89.34%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Institutional investors have recently added to or reduced their stakes in the business. Dunhill Financial LLC raised its holdings in shares of Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after purchasing an additional 249 shares during the period. Blue Trust Inc. increased its position in Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after buying an additional 212 shares in the last quarter. Kimelman & Baird LLC acquired a new position in Toronto-Dominion Bank during the 2nd quarter worth approximately $49,000. Morse Asset Management Inc bought a new position in Toronto-Dominion Bank in the third quarter worth approximately $63,000. Finally, Eastern Bank acquired a new stake in Toronto-Dominion Bank in the third quarter valued at approximately $66,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Company Profile

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.