The Toronto-Dominion Bank (NYSE:TD) Stock Rating Lowered by Zacks Investment Research

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Toronto Dominion Bank is a Canadian chartered bank and offers a wide range of business and consumer services. These services include checking and savings accounts, credit cards, mortgage and student loans,trusts, wills, estate planning,investment management services and financial and advisory services. “

A number of other research firms also recently weighed in on TD. BMO Capital Markets decreased their price target on The Toronto-Dominion Bank from C$96.00 to C$94.00 and set a “market perform” rating for the company in a research note on Friday, August 27th. Scotiabank reduced their target price on The Toronto-Dominion Bank from C$95.00 to C$94.00 in a research note on Tuesday, August 17th. Barclays upgraded The Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $89.00 target price for the company in a research note on Tuesday, September 7th. Finally, Fundamental Research lifted their target price on The Toronto-Dominion Bank from $98.55 to $100.73 and gave the stock a “buy” rating in a research note on Wednesday, September 1st. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $82.25.

TD stock opened at $64.53 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $66.69 and a two-hundred day moving average price of $67.94. The company has a market cap of $117.61 billion, a price-to-earnings ratio of 9.72, a P/E/G ratio of 0.83 and a beta of 1.04. The Toronto-Dominion Bank has a twelve month low of $42.90 and a twelve month high of $73.85.

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Wednesday, August 25th. The bank reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.04. The firm had revenue of $10.71 billion during the quarter, compared to the consensus estimate of $9.82 billion. The Toronto-Dominion Bank had a return on equity of 15.26% and a net margin of 31.71%. The business’s revenue was up .4% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. On average, equities research analysts anticipate that The Toronto-Dominion Bank will post 6.16 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC raised its holdings in The Toronto-Dominion Bank by 7.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 757,324 shares of the bank’s stock valued at $53,051,000 after acquiring an additional 51,996 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in The Toronto-Dominion Bank by 166.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 8,612 shares of the bank’s stock valued at $603,000 after acquiring an additional 5,384 shares in the last quarter. Marshall Wace LLP raised its holdings in The Toronto-Dominion Bank by 108.1% in the 2nd quarter. Marshall Wace LLP now owns 282,505 shares of the bank’s stock valued at $19,818,000 after acquiring an additional 146,764 shares in the last quarter. Marshall Wace North America L.P. raised its holdings in The Toronto-Dominion Bank by 148.2% in the 2nd quarter. Marshall Wace North America L.P. now owns 374,118 shares of the bank’s stock valued at $26,234,000 after acquiring an additional 223,394 shares in the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in The Toronto-Dominion Bank in the 2nd quarter valued at $201,000. 48.38% of the stock is owned by hedge funds and other institutional investors.

The Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank engages in providing financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.

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