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 research note issued to investors on Monday morning.

Several other analysts also recently commented on TD. Jefferies Financial Group downgraded shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Zacks Research upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Canadian Imperial Bank of Commerce cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Up 1.0%

Shares of NYSE TD opened at $98.70 on Monday. The business has a 50-day moving average price of $95.36 and a 200 day moving average price of $86.13. The stock has a market cap of $164.96 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.11 and a beta of 0.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52-week low of $54.87 and a 52-week high of $99.84.

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

Toronto Dominion Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 annualized dividend and a dividend yield of 4.4%. Toronto Dominion Bank’s dividend payout ratio is 34.81%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Toronto Dominion Bank during the fourth quarter worth approximately $2,125,963,000. Canerector Inc. lifted its holdings in shares of Toronto Dominion Bank by 11,028.0% in the third 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 during the period. Picton Mahoney Asset Management bought a new position in Toronto Dominion Bank during the second quarter valued at about $267,475,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Toronto Dominion Bank by 41.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock worth $1,121,660,000 after acquiring an additional 3,496,645 shares during the period. Finally, Alberta Investment Management Corp bought a new stake in Toronto Dominion Bank in the fourth quarter worth about $299,850,000. Institutional investors and hedge funds 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.