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

StockNews.com downgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a report issued on Friday morning.

A number of other equities research analysts have also recently weighed in on TD. Royal Bank of Canada lowered their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Trading Up 0.2 %

Shares of TD opened at $53.00 on Friday. Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month 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. The firm has a market capitalization of $92.76 billion, a P/E ratio of 15.27, a PEG ratio of 1.69 and a beta of 0.82. The firm’s 50-day moving average is $55.02 and its two-hundred day moving average is $57.33.

Toronto-Dominion Bank Increases Dividend

The business also recently disclosed 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 represents a $2.99 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend is Friday, January 10th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 89.34%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in shares of Toronto-Dominion Bank by 57.1% during the third quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock worth $1,693,000 after purchasing an additional 9,725 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Toronto-Dominion Bank by 1.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after buying an additional 144,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Toronto-Dominion Bank by 61.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after buying an additional 2,279,864 shares during the last quarter. Galibier Capital Management Ltd. grew its holdings in Toronto-Dominion Bank by 24.6% in the 3rd quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after buying an additional 119,978 shares during the period. Finally, Forsta AP Fonden grew its holdings in Toronto-Dominion Bank by 3.2% in the 3rd quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock valued at $29,531,000 after buying an additional 14,500 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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.