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 report released on Sunday.

A number of other equities research analysts also recently weighed in on the company. Natl Bk Canada upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Friday, October 3rd. National Bank Financial raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group downgraded shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Trading Up 0.2%

Shares of Toronto Dominion Bank stock opened at $94.73 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. Toronto Dominion Bank has a 1 year low of $52.96 and a 1 year high of $95.05. The firm has a market cap of $160.05 billion, a PE ratio of 11.24, a PEG ratio of 1.32 and a beta of 0.69. The company has a 50 day simple moving average of $85.77 and a two-hundred day simple moving average of $79.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.10. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $10.10 billion. During the same quarter last year, the company posted $1.72 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, January 9th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. Toronto Dominion Bank’s dividend payout ratio is currently 35.82%.

Hedge Funds Weigh In On Toronto Dominion Bank

Hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board grew its position in Toronto Dominion Bank by 18.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock valued at $917,832,000 after purchasing an additional 1,946,172 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Toronto Dominion Bank by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock worth $1,010,852,000 after buying an additional 115,203 shares during the last quarter. Triasima Portfolio Management inc. bought a new position in shares of Toronto Dominion Bank in the second quarter worth approximately $8,492,000. Picton Mahoney Asset Management purchased a new stake in shares of Toronto Dominion Bank during the second quarter valued at approximately $267,475,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Toronto Dominion Bank by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock valued at $121,791,000 after buying an additional 51,698 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.