Toronto-Dominion Bank (NYSE:TD) Earns Sector Perform Rating from Analysts at Scotiabank

Scotiabank assumed coverage on shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in a research note published on Thursday morning, MarketBeat reports. The firm issued a sector perform rating on the bank’s stock.

TD has been the subject of a number of other research reports. Jefferies Financial Group cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Finally, StockNews.com upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Trading Down 1.1%

Shares of NYSE:TD opened at $64.27 on Thursday. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.97. The stock has a market cap of $111.56 billion, a PE ratio of 18.52, a P/E/G ratio of 1.95 and a beta of 0.81. The business has a 50 day moving average of $60.69 and a 200-day moving average of $57.79. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.7278 per share. This represents a $2.91 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Thursday, April 10th. Toronto-Dominion Bank’s payout ratio is presently 85.59%.

Institutional Investors Weigh In On Toronto-Dominion Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its stake in Toronto-Dominion Bank by 122.9% during the first quarter. Larson Financial Group LLC now owns 428 shares of the bank’s stock worth $26,000 after purchasing an additional 236 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in Toronto-Dominion Bank during the fourth quarter worth $27,000. Financial Management Professionals Inc. lifted its stake in Toronto-Dominion Bank by 322.4% during the first quarter. Financial Management Professionals Inc. now owns 490 shares of the bank’s stock worth $29,000 after purchasing an additional 374 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in Toronto-Dominion Bank during the fourth quarter worth $32,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new stake in Toronto-Dominion Bank during the first quarter worth $32,000. 52.37% of the stock is currently 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.