Toronto-Dominion Bank (NYSE:TD) Downgraded by Scotiabank to Sector Perform

Scotiabank lowered shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a sector outperform rating to a sector perform rating in a research report report published on Friday, MarketBeat reports.

A number of other research analysts have also recently weighed in on TD. Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Stock Down 1.6 %

Toronto-Dominion Bank stock opened at $51.95 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average price is $57.53 and its two-hundred day moving average price is $57.67. The firm has a market capitalization of $90.92 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82. Toronto-Dominion Bank has a 1-year low of $51.74 and a 1-year high of $65.12.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be issued a dividend of $0.7482 per share. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.76%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 87.03%.

Institutional Investors Weigh In On Toronto-Dominion Bank

A number of institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers boosted its holdings in Toronto-Dominion Bank by 173.2% during the 1st quarter. Cetera Investment Advisers now owns 74,887 shares of the bank’s stock valued at $4,522,000 after acquiring an additional 47,477 shares during the period. CWM LLC grew its holdings in shares of Toronto-Dominion Bank by 7.6% in the second quarter. CWM LLC now owns 7,038 shares of the bank’s stock worth $387,000 after purchasing an additional 496 shares during the last quarter. Simplicity Wealth LLC increased its stake in shares of Toronto-Dominion Bank by 9.3% in the second quarter. Simplicity Wealth LLC now owns 7,966 shares of the bank’s stock worth $438,000 after buying an additional 676 shares during the period. SG Americas Securities LLC bought a new stake in Toronto-Dominion Bank during the 2nd quarter valued at $130,000. Finally, QV Investors Inc. boosted its position in Toronto-Dominion Bank by 12.1% during the 2nd quarter. QV Investors Inc. now owns 868,171 shares of the bank’s stock valued at $47,712,000 after buying an additional 94,013 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Company Profile

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.