Toronto-Dominion Bank (NYSE:TD) Cut to “Sell” at StockNews.com

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

Several other research analysts have also weighed in on TD. Royal Bank of Canada lowered their price target 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. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Finally, National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Stock Down 0.5 %

Shares of Toronto-Dominion Bank stock opened at $51.56 on Tuesday. Toronto-Dominion Bank has a 52-week low of $51.56 and a 52-week high of $65.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.03. The business’s 50 day simple moving average is $55.46 and its 200 day simple moving average is $57.45. The firm has a market cap of $90.24 billion, a PE ratio of 14.86, a P/E/G ratio of 1.69 and a beta of 0.82.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be issued a dividend of $0.7482 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.80%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 89.34%.

Institutional Trading of Toronto-Dominion Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dunhill Financial LLC lifted its position in shares of Toronto-Dominion Bank by 164.9% during the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after acquiring an additional 249 shares during the period. Blue Trust Inc. raised its stake in Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after purchasing an additional 212 shares in the last quarter. Kimelman & Baird LLC bought a new stake in Toronto-Dominion Bank during the second quarter worth about $49,000. Morse Asset Management Inc bought a new position in Toronto-Dominion Bank in the 3rd quarter valued at about $63,000. Finally, Eastern Bank acquired a new position in shares of Toronto-Dominion Bank in the 3rd quarter valued at approximately $66,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto-Dominion Bank

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.