Toronto-Dominion Bank (TD) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a research note published on Wednesday morning.

Several other research analysts also recently weighed in on the stock. TheStreet upgraded shares of Toronto-Dominion Bank from a c+ rating to a b rating in a report on Tuesday, September 4th. Zacks Investment Research downgraded shares of Toronto-Dominion Bank from a hold rating to a sell rating in a report on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $79.00.

TD traded down $0.42 during trading on Wednesday, hitting $55.46. 935,860 shares of the company’s stock were exchanged, compared to its average volume of 1,568,812. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10. Toronto-Dominion Bank has a fifty-two week low of $54.37 and a fifty-two week high of $62.00. The company has a market cap of $102.69 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.99 and a beta of 1.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 30th. The bank reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.43. Toronto-Dominion Bank had a net margin of 21.82% and a return on equity of 16.63%. The firm had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. As a group, equities analysts forecast that Toronto-Dominion Bank will post 4.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th were paid a $0.5144 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $2.06 annualized dividend and a dividend yield of 3.71%. Toronto-Dominion Bank’s payout ratio is 49.06%.

Several hedge funds and other institutional investors have recently bought and sold shares of TD. Fisher Asset Management LLC grew its stake in shares of Toronto-Dominion Bank by 16.9% in the 2nd quarter. Fisher Asset Management LLC now owns 20,434 shares of the bank’s stock worth $1,182,000 after acquiring an additional 2,959 shares in the last quarter. Addenda Capital Inc. grew its stake in shares of Toronto-Dominion Bank by 96.6% in the 2nd quarter. Addenda Capital Inc. now owns 4,162,640 shares of the bank’s stock worth $238,377,000 after acquiring an additional 2,045,677 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in shares of Toronto-Dominion Bank in the 2nd quarter worth $18,331,000. TRUE Private Wealth Advisors bought a new stake in shares of Toronto-Dominion Bank in the 2nd quarter worth $309,000. Finally, Baystate Wealth Management LLC grew its stake in shares of Toronto-Dominion Bank by 317.5% in the 2nd quarter. Baystate Wealth Management LLC now owns 7,890 shares of the bank’s stock worth $454,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 47.54% of the company’s stock.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

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Analyst Recommendations for Toronto-Dominion Bank (NYSE:TD)

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