ValuEngine Lowers Toronto-Dominion Bank (TD) to Sell

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

A number of other equities research analysts have also weighed in on TD. Zacks Investment Research lowered shares of Toronto-Dominion Bank from a buy rating to a hold rating in a report on Thursday, November 1st. TheStreet raised shares of Toronto-Dominion Bank from a c+ rating to a b rating in a report on Tuesday, September 4th. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $79.00.

Shares of Toronto-Dominion Bank stock traded down $0.42 during midday trading on Wednesday, hitting $55.46. 935,860 shares of the company traded hands, compared to its average volume of 1,568,812. Toronto-Dominion Bank has a 12 month low of $54.37 and a 12 month high of $62.00. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $102.69 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.99 and a beta of 1.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 30th. The bank reported $1.66 earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $7.23 billion. During the same period in the previous year, the firm posted $1.51 EPS. As a group, research analysts anticipate that Toronto-Dominion Bank will post 4.94 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently modified their holdings of TD. Fisher Asset Management LLC lifted its position 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 purchasing an additional 2,959 shares during the period. Addenda Capital Inc. lifted its position 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 purchasing an additional 2,045,677 shares during the period. Mckinley Capital Management LLC Delaware acquired a new position in shares of Toronto-Dominion Bank in the 2nd quarter worth approximately $18,331,000. TRUE Private Wealth Advisors acquired a new position in shares of Toronto-Dominion Bank in the 2nd quarter worth approximately $309,000. Finally, Baystate Wealth Management LLC lifted its position 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 purchasing an additional 6,000 shares during the period. 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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