Toronto Dominion Bank (NYSE:TD) Rating Increased to Hold at Raymond James Financial

Raymond James Financial upgraded shares of Toronto Dominion Bank (NYSE:TD) (TSE:TD) to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on TD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Jefferies Financial Group lowered shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Desjardins upgraded shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Price Performance

Shares of TD stock opened at $82.28 on Monday. The firm has a market cap of $139.01 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.68 and a beta of 0.79. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $83.02. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $80.55 and a 200 day moving average price of $75.17.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly 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. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The business had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $13.73 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. Toronto Dominion Bank’s revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 10th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend 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 (DPR) is currently 35.16%.

Institutional Trading of Toronto Dominion Bank

A number of institutional investors have recently modified their holdings of TD. Triasima Portfolio Management inc. acquired a new position in shares of Toronto Dominion Bank during the 2nd quarter worth about $8,492,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Toronto Dominion Bank by 41.9% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank’s stock worth $264,134,000 after acquiring an additional 1,302,281 shares in the last quarter. Bank of New York Mellon Corp boosted its position in 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 purchasing an additional 51,698 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in Toronto Dominion Bank by 304.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 2,446,307 shares of the bank’s stock valued at $180,047,000 after purchasing an additional 1,840,747 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Toronto Dominion Bank by 38.6% in the first quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank’s stock valued at $599,064,000 after purchasing an additional 2,780,984 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

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.