Toronto Dominion Bank (NYSE:TD) Upgraded 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 issued on Saturday morning.

A number of other equities analysts also recently issued reports on the stock. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods assumed coverage on shares of Toronto Dominion Bank in a research report on Friday. They issued a “market perform” rating on the stock. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Stock Down 0.5%

Toronto Dominion Bank stock opened at $116.51 on Friday. Toronto Dominion Bank has a one year low of $72.73 and a one year high of $125.46. The stock has a fifty day moving average of $120.47 and a 200 day moving average of $108.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $191.64 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.18 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.11. The business had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The business’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same period last year, the firm posted $1.97 earnings per share. As a group, sell-side analysts predict that Toronto Dominion Bank will post 6.99 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were paid a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date was Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. Toronto Dominion Bank’s dividend payout ratio is presently 49.14%.

Institutional Investors Weigh In On Toronto Dominion Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TD. Main Line Retirement Advisors LLC boosted its position in shares of Toronto Dominion Bank by 0.8% in the first quarter. Main Line Retirement Advisors LLC now owns 12,254 shares of the bank’s stock worth $1,143,000 after purchasing an additional 102 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Toronto Dominion Bank by 1.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 5,735 shares of the bank’s stock valued at $535,000 after purchasing an additional 102 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Toronto Dominion Bank by 1.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 7,194 shares of the bank’s stock valued at $671,000 after purchasing an additional 104 shares during the period. Valmark Advisers Inc. lifted its stake in shares of Toronto Dominion Bank by 0.8% during the 1st quarter. Valmark Advisers Inc. now owns 16,057 shares of the bank’s stock valued at $1,498,000 after buying an additional 122 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Toronto Dominion Bank by 4.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank’s stock valued at $233,000 after buying an additional 134 shares in the last quarter. Institutional investors 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.