Toronto-Dominion Bank (NYSE:TD) Stock Price Down 2.8% – Time to Sell?

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD)’s stock price fell 2.8% on Friday . The stock traded as low as $57.76 and last traded at $57.80. 2,605,996 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 2,712,824 shares. The stock had previously closed at $59.44.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Trading Down 3.6 %

The stock has a market cap of $100.16 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.85 and a beta of 0.81. The stock’s 50-day moving average is $60.63 and its two-hundred day moving average is $58.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.56. The business had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 EPS. Equities research analysts anticipate that The Toronto-Dominion Bank will post 5.84 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 95.21%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Toronto-Dominion Bank by 61.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock valued at $319,151,000 after acquiring an additional 2,215,185 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Toronto-Dominion Bank by 31.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock valued at $549,550,000 after buying an additional 2,188,263 shares in the last quarter. National Bank of Canada FI increased its position in shares of Toronto-Dominion Bank by 6.2% in the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock valued at $1,677,917,000 after acquiring an additional 1,736,931 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Toronto-Dominion Bank by 6.0% during the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after purchasing an additional 1,462,794 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Toronto-Dominion Bank by 17.9% in the first quarter. Canada Pension Plan Investment Board now owns 8,175,457 shares of the bank’s stock valued at $493,880,000 after purchasing an additional 1,238,502 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

About Toronto-Dominion Bank

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.