The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report issued 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. "
Several other brokerages have also recently commented on TD. Barclays upgraded shares of The Toronto-Dominion Bank from an "equal weight" rating to an "overweight" rating and set a $89.00 price target on the stock in a research report on Tuesday, September 7th. Fundamental Research boosted their price objective on The Toronto-Dominion Bank from $98.55 to $100.73 and gave the stock a "buy" rating in a report on Wednesday, September 1st. BMO Capital Markets cut their price objective on The Toronto-Dominion Bank from C$96.00 to C$94.00 and set a "market perform" rating on the stock in a report on Friday, August 27th. Finally, Scotiabank cut their price objective on The Toronto-Dominion Bank from C$95.00 to C$94.00 in a report on Tuesday, August 17th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, The Toronto-Dominion Bank presently has a consensus rating of "Hold" and an average price target of $82.25.
TD stock opened at $64.53 on Wednesday. The company has a market capitalization of $117.61 billion, a P/E ratio of 9.72, a PEG ratio of 0.83 and a beta of 1.04. The company has a 50-day simple moving average of $66.69 and a 200 day simple moving average of $67.94. The Toronto-Dominion Bank has a fifty-two week low of $42.90 and a fifty-two week high of $73.85. 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 Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Wednesday, August 25th. The bank reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.04. The business had revenue of $10.71 billion during the quarter, compared to the consensus estimate of $9.82 billion. The Toronto-Dominion Bank had a net margin of 31.71% and a return on equity of 15.26%. The company's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. Equities analysts anticipate that The Toronto-Dominion Bank will post 6.16 EPS for the current year.
Several hedge funds have recently modified their holdings of TD. Parametric Portfolio Associates LLC raised its stake in shares of The Toronto-Dominion Bank by 7.4% in the second quarter. Parametric Portfolio Associates LLC now owns 757,324 shares of the bank's stock valued at $53,051,000 after purchasing an additional 51,996 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of The Toronto-Dominion Bank by 166.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 8,612 shares of the bank's stock valued at $603,000 after purchasing an additional 5,384 shares in the last quarter. Marshall Wace LLP raised its stake in shares of The Toronto-Dominion Bank by 108.1% in the second quarter. Marshall Wace LLP now owns 282,505 shares of the bank's stock valued at $19,818,000 after purchasing an additional 146,764 shares in the last quarter. Marshall Wace North America L.P. raised its stake in shares of The Toronto-Dominion Bank by 148.2% in the second quarter. Marshall Wace North America L.P. now owns 374,118 shares of the bank's stock valued at $26,234,000 after purchasing an additional 223,394 shares in the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in The Toronto-Dominion Bank during the second quarter worth $201,000. Institutional investors own 48.38% of the company's stock.
About The Toronto-Dominion Bank
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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