Toronto Dominion Bank (NYSE:TD) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Toronto Dominion Bank (NYSE:TD) (TSE:TD) from a sell rating to a hold rating in a report released on Saturday.

Several other research analysts have also issued reports on the company. National Bank Financial raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, January 21st. Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. Jefferies Financial Group cut Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Natl Bk Canada raised shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toronto Dominion Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Trading Down 0.3%

TD opened at $95.33 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. Toronto Dominion Bank has a fifty-two week low of $54.87 and a fifty-two week high of $99.04. The company’s 50 day moving average price is $94.06 and its two-hundred day moving average price is $84.01. The firm has a market capitalization of $159.32 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.31 and a beta of 0.67.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 earnings per share. As a group, research analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Friday, January 9th were paid a dividend of $1.08 per share. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, January 9th. Toronto Dominion Bank’s payout ratio is 37.25%.

Institutional Trading of Toronto Dominion Bank

Large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC increased its stake in shares of Toronto Dominion Bank by 5.7% in the 4th quarter. Kestra Advisory Services LLC now owns 19,564 shares of the bank’s stock valued at $1,843,000 after acquiring an additional 1,048 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in Toronto Dominion Bank by 13.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 3,518 shares of the bank’s stock worth $331,000 after purchasing an additional 407 shares during the period. Marshall Wace LLP increased its stake in Toronto Dominion Bank by 446.5% in the fourth quarter. Marshall Wace LLP now owns 72,680 shares of the bank’s stock valued at $6,846,000 after purchasing an additional 59,380 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Toronto Dominion Bank by 10.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock valued at $1,606,978,000 after purchasing an additional 1,629,062 shares in the last quarter. Finally, PCM Encore LLC acquired a new position in shares of Toronto Dominion Bank during the fourth quarter valued at about $1,049,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.