Wall Street Zen Upgrades Toronto-Dominion Bank (NYSE:TD) to "Hold"

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 note published on Saturday morning.

Several other equities research analysts also recently commented on the stock. Scotiabank initiated coverage on shares of Toronto-Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. Royal Bank of Canada boosted their target price on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research note on Friday, May 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank has a consensus rating of "Hold" and an average target price of $93.00.

Toronto-Dominion Bank Stock Performance

Shares of NYSE:TD traded up $0.61 during trading on Friday, reaching $68.72. The stock had a trading volume of 1,640,665 shares, compared to its average volume of 2,364,620. Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $68.77. The firm has a market capitalization of $119.28 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.95 and a beta of 0.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $62.04 and a two-hundred day simple moving average of $58.45.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.14. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $13.36 billion. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. During the same quarter last year, the company posted $2.04 earnings per share. As a group, analysts anticipate 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. Investors of record on Thursday, July 10th will be given a dividend of $0.7568 per share. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $3.03 annualized dividend and a yield of 4.41%. Toronto-Dominion Bank's dividend payout ratio is 42.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balanced Rock Investment Advisors LLC lifted its position in Toronto-Dominion Bank by 1.1% during the 1st quarter. Balanced Rock Investment Advisors LLC now owns 14,983 shares of the bank's stock valued at $898,000 after purchasing an additional 163 shares during the period. Frank Rimerman Advisors LLC lifted its position in Toronto-Dominion Bank by 3.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 5,446 shares of the bank's stock valued at $290,000 after purchasing an additional 171 shares during the period. MFA Wealth Services lifted its position in Toronto-Dominion Bank by 4.5% during the 1st quarter. MFA Wealth Services now owns 4,179 shares of the bank's stock valued at $250,000 after purchasing an additional 179 shares during the period. Intrua Financial LLC lifted its position in Toronto-Dominion Bank by 2.4% during the 1st quarter. Intrua Financial LLC now owns 7,812 shares of the bank's stock valued at $468,000 after purchasing an additional 183 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in Toronto-Dominion Bank by 14.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,500 shares of the bank's stock valued at $90,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

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.