Toronto-Dominion Bank (NYSE:TD) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a research report released on Monday morning.

A number of other equities analysts also recently issued reports on TD. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Royal Bank of Canada lowered their target price 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. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research 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. Finally, Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $59.38 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $56.16 and a two-hundred day simple moving average of $57.58. The stock has a market capitalization of $103.93 billion, a PE ratio of 17.11, a P/E/G ratio of 1.95 and a beta of 0.84. Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were issued a $0.7482 dividend. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend was Friday, January 10th. Toronto-Dominion Bank’s payout ratio is presently 84.15%.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of TD. Vanguard Group Inc. lifted its stake in Toronto-Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after acquiring an additional 1,415,934 shares in the last quarter. FIL Ltd boosted its holdings in shares of Toronto-Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after buying an additional 5,756,584 shares during the period. Mackenzie Financial Corp grew its position in shares of Toronto-Dominion Bank by 5.6% in the fourth quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock valued at $1,488,233,000 after purchasing an additional 1,491,472 shares during the last quarter. Norges Bank acquired a new stake in shares of Toronto-Dominion Bank in the fourth quarter valued at approximately $992,204,000. Finally, Beutel Goodman & Co Ltd. grew its holdings in shares of Toronto-Dominion Bank by 3.8% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock worth $894,169,000 after purchasing an additional 622,736 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

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.