Toronto Dominion Bank (NYSE:TD) Upgraded by Wall Street Zen to Hold Rating

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

Other equities analysts have also recently issued reports about the company. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Zacks Research raised shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Trading Up 0.9%

TD opened at $98.21 on Monday. Toronto Dominion Bank has a fifty-two week low of $54.87 and a fifty-two week high of $99.84. The firm has a market capitalization of $164.13 billion, a PE ratio of 10.85, a P/E/G ratio of 1.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50-day moving average is $95.20 and its 200 day moving average is $85.88.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm had revenue of $11.01 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same period in the previous year, the company posted $2.02 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, research analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 34.70%.

Institutional Investors Weigh In On Toronto Dominion Bank

Several large investors have recently added to or reduced their stakes in TD. Norges Bank purchased a new stake in Toronto Dominion Bank during the fourth quarter valued at about $2,125,963,000. Canerector Inc. lifted its stake in shares of Toronto Dominion Bank by 11,028.0% during the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock valued at $1,779,367,000 after buying an additional 22,056,000 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Toronto Dominion Bank in the 2nd quarter worth approximately $267,475,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Toronto Dominion Bank by 41.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock valued at $1,121,660,000 after buying an additional 3,496,645 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Toronto Dominion Bank during the 4th quarter valued at $299,850,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Company Profile

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.