Toronto-Dominion Bank (NYSE:TD) Lowered to “Underperform” at National Bank Financial

National Bank Financial lowered shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a sector perform rating to an underperform rating in a research report released on Thursday morning, Marketbeat reports.

Other equities research analysts have also issued reports about the company. Scotiabank raised Toronto-Dominion Bank from a sector perform rating to a sector outperform rating in a research note on Wednesday, April 17th. Barclays started coverage on Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an equal weight rating on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They set a hold rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $88.00.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $56.56 on Thursday. The company has a market cap of $99.52 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.75 and a beta of 0.84. The business’s 50 day moving average price is $58.05 and its 200-day moving average price is $59.95. Toronto-Dominion Bank has a fifty-two week low of $54.12 and a fifty-two week high of $66.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. The firm had revenue of $10.18 billion during the quarter, compared to analyst estimates of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.35%. Sell-side analysts predict that Toronto-Dominion Bank will post 5.73 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is 68.64%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Toronto-Dominion Bank by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,044,900 shares of the bank’s stock worth $132,141,000 after acquiring an additional 130,801 shares during the period. Cooper Financial Group boosted its stake in shares of Toronto-Dominion Bank by 2.4% during the fourth quarter. Cooper Financial Group now owns 8,120 shares of the bank’s stock valued at $525,000 after purchasing an additional 188 shares in the last quarter. Cape Cod Five Cents Savings Bank increased its holdings in Toronto-Dominion Bank by 100.0% during the third quarter. Cape Cod Five Cents Savings Bank now owns 16,780 shares of the bank’s stock valued at $1,011,000 after buying an additional 8,390 shares during the period. CWM LLC raised its stake in Toronto-Dominion Bank by 15.2% in the fourth quarter. CWM LLC now owns 6,528 shares of the bank’s stock worth $422,000 after buying an additional 863 shares in the last quarter. Finally, Schechter Investment Advisors LLC lifted its holdings in Toronto-Dominion Bank by 6.0% during the fourth quarter. Schechter Investment Advisors LLC now owns 7,697 shares of the bank’s stock worth $497,000 after buying an additional 434 shares during the period. 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.