Toronto Dominion Bank (NYSE:TD) Upgraded by Wall Street Zen to Hold Rating

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 published on Saturday morning.

TD has been the topic of several other research reports. Desjardins upgraded Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research report on Wednesday, August 13th. Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $93.00.

Toronto Dominion Bank Stock Performance

TD stock traded down $0.08 during mid-day trading on Friday, hitting $81.27. 2,446,871 shares of the company were exchanged, compared to its average volume of 2,042,166. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $82.93. The stock has a market capitalization of $137.88 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The business has a 50 day simple moving average of $79.78 and a 200-day simple moving average of $74.18. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.45. The company had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. On average, equities analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 10th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, October 10th. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $0.76. Toronto Dominion Bank’s dividend payout ratio is presently 35.16%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in Toronto Dominion Bank by 1,477.5% during the third quarter. Lazard Asset Management LLC now owns 6,878 shares of the bank’s stock worth $542,000 after purchasing an additional 6,442 shares during the last quarter. Creative Planning raised its holdings in shares of Toronto Dominion Bank by 15.1% during the 3rd quarter. Creative Planning now owns 219,771 shares of the bank’s stock worth $17,571,000 after buying an additional 28,761 shares in the last quarter. Credit Agricole S A bought a new stake in shares of Toronto Dominion Bank during the 3rd quarter worth $6,395,000. Raymond James Financial Inc. boosted its stake in Toronto Dominion Bank by 3.4% in the third quarter. Raymond James Financial Inc. now owns 153,650 shares of the bank’s stock valued at $12,284,000 after buying an additional 4,992 shares in the last quarter. Finally, Equitable Holdings Inc. grew its position in Toronto Dominion Bank by 4.1% in the third quarter. Equitable Holdings Inc. now owns 28,636 shares of the bank’s stock valued at $2,289,000 after acquiring an additional 1,125 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

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.