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

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

A number of other brokerages have also issued reports on TD. Royal Bank of Canada cut their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. BMO Capital Markets upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Finally, Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, five 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Price Performance

Shares of TD opened at $53.00 on Friday. The firm has a 50-day simple moving average of $55.02 and a two-hundred day simple moving average of $57.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02. Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $65.12. The stock has a market cap of $92.76 billion, a PE ratio of 15.27, a P/E/G ratio of 1.69 and a beta of 0.82.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be paid a $0.7482 dividend. The ex-dividend date is Friday, January 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 dividend on an annualized basis and a yield of 5.65%. Toronto-Dominion Bank’s payout ratio is currently 89.34%.

Institutional Trading of Toronto-Dominion Bank

Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after acquiring an additional 2,689,532 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings 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 valued at $380,118,000 after purchasing an additional 2,279,864 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Toronto-Dominion Bank by 61.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after purchasing an additional 2,215,185 shares during the period. Quadrature Capital Ltd raised its stake in shares of Toronto-Dominion Bank by 175.5% during the 3rd quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after buying an additional 1,571,700 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Toronto-Dominion Bank by 6.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after buying an additional 1,462,794 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

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.