Toronto-Dominion Bank (NYSE:TD) Now Covered by Analysts at UBS Group

UBS Group started coverage on shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a neutral rating on the bank’s stock.

A number of other brokerages have also weighed in on TD. BMO Capital Markets lowered their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a market perform rating for the company in a report on Friday, May 24th. National Bank Financial lowered shares of Toronto-Dominion Bank from a sector perform rating to an underperform rating in a report on Thursday, May 23rd. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a hold rating to a strong-buy rating in a report on Friday, May 24th. Scotiabank upgraded shares of Toronto-Dominion Bank from a sector perform rating to a sector outperform rating in a report on Wednesday, April 17th. Finally, Barclays assumed coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an equal weight rating for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank presently has an average rating of Hold and an average price target of $88.00.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $55.29 on Tuesday. The company has a 50 day moving average of $56.01 and a 200 day moving average of $58.89. The stock has a market cap of $96.61 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.51 and a beta of 0.82. Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $66.15. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11.

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 the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The business had revenue of $10.18 billion during the quarter, compared to analyst estimates of $9.90 billion. As a group, sell-side analysts forecast that Toronto-Dominion Bank will post 5.86 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s payout ratio is 67.27%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Toronto-Dominion Bank by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 72,384,265 shares of the bank’s stock valued at $4,361,876,000 after acquiring an additional 1,303,730 shares during the period. TD Asset Management Inc lifted its stake in shares of Toronto-Dominion Bank by 28.9% in the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock worth $3,017,384,000 after purchasing an additional 10,415,591 shares during the period. Canoe Financial LP lifted its stake in shares of Toronto-Dominion Bank by 2,035.4% in the 4th quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after purchasing an additional 40,803,711 shares during the period. Bank of Nova Scotia lifted its stake in shares of Toronto-Dominion Bank by 0.3% in the 4th quarter. Bank of Nova Scotia now owns 33,335,463 shares of the bank’s stock worth $2,154,141,000 after purchasing an additional 105,772 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Toronto-Dominion Bank by 6.2% in the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock worth $1,677,917,000 after purchasing an additional 1,736,931 shares during the period. 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.