Barclays Downgrades Toronto-Dominion Bank (TSE:TD) to Strong Sell

Barclays cut shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from a hold rating to a strong sell rating in a research note published on Thursday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group lifted their price target on Toronto-Dominion Bank from C$73.00 to C$82.00 and gave the company a “hold” rating in a report on Monday, August 12th. National Bankshares upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$74.00 to C$78.00 in a research report on Friday, August 23rd. Scotiabank decreased their target price on Toronto-Dominion Bank from C$87.00 to C$86.00 in a research report on Monday, August 19th. Bank of America boosted their target price on Toronto-Dominion Bank from C$85.00 to C$90.00 in a research report on Friday, August 23rd. Finally, National Bank Financial upgraded Toronto-Dominion Bank from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus price target of C$86.67.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at C$78.51 on Thursday. The stock has a market cap of C$137.39 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82. Toronto-Dominion Bank has a one year low of C$73.67 and a one year high of C$87.99. The stock has a fifty day moving average price of C$81.33 and a 200 day moving average price of C$79.11.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its earnings results on Thursday, August 22nd. The company reported C$2.05 EPS for the quarter, missing the consensus estimate of C$2.07 by C($0.02). The firm had revenue of C$14.18 billion during the quarter, compared to the consensus estimate of C$14.12 billion. Toronto-Dominion Bank had a return on equity of 7.33% and a net margin of 15.72%. Equities research analysts anticipate that Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Toronto-Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 94.44%.

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.