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

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

Several other analysts also recently issued reports on TD. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their price target on Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a report on Friday. Finally, Scotiabank initiated coverage on Toronto-Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $93.00.

Toronto-Dominion Bank Trading Up 1.1%

NYSE TD traded up $0.75 on Friday, hitting $67.70. 2,347,750 shares of the company were exchanged, compared to its average volume of 2,373,637. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $68.05. The firm has a market capitalization of $117.51 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81. The company's 50 day moving average price is $61.38 and its 200-day moving average price is $58.15.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.14. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same period last year, the firm posted $2.04 earnings per share. Analysts predict that Toronto-Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.7568 per share. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Thursday, July 10th. Toronto-Dominion Bank's payout ratio is currently 42.67%.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of hedge funds have recently modified their holdings of TD. Asahi Life Asset Management CO. LTD. purchased a new position in Toronto-Dominion Bank in the fourth quarter valued at about $416,000. Vanguard Group Inc. lifted its holdings in shares of Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after buying an additional 1,415,934 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Toronto-Dominion Bank by 3.4% in the 4th quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank's stock valued at $384,042,000 after buying an additional 236,037 shares in the last quarter. Nicola Wealth Management LTD. increased its holdings in Toronto-Dominion Bank by 15.5% in the fourth quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank's stock worth $27,153,000 after buying an additional 68,400 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its holdings in Toronto-Dominion Bank by 21.2% in the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank's stock worth $3,383,000 after buying an additional 11,100 shares during 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.