Toronto-Dominion Bank (NYSE:TD) Lowered to Sell Rating by 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 Friday morning.

TD has been the topic of a number of other research reports. Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Royal Bank of Canada dropped their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Jefferies Financial Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Trading Up 0.2 %

NYSE TD opened at $53.00 on Friday. Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $65.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02. The business has a 50 day simple moving average of $55.02 and a 200 day simple moving average of $57.36. The stock has a market capitalization of $92.76 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.69 and a beta of 0.82.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be given a dividend of $0.7482 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. This represents a $2.99 annualized dividend and a dividend yield of 5.65%. Toronto-Dominion Bank’s payout ratio is presently 89.34%.

Institutional Trading of Toronto-Dominion Bank

Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp boosted its position in Toronto-Dominion Bank by 0.8% in the second quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock worth $1,429,186,000 after purchasing an additional 218,807 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Toronto-Dominion Bank by 6.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after purchasing an additional 1,462,794 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Toronto-Dominion Bank by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after buying an additional 853,313 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Toronto-Dominion Bank by 9.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock valued at $759,449,000 after buying an additional 1,206,574 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Toronto-Dominion Bank by 24.9% during the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after buying an additional 2,689,532 shares during the last quarter. Institutional investors 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.