Toronto Dominion Bank (NYSE:TD) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Toronto Dominion Bank (TD) from a "hold" to a "sell."
• Despite the downgrade, TD's consensus rating remains a Moderate Buy with a consensus price target of $93.00 and a mix of analyst opinions (three Strong Buy, two Buy, four Hold).
• TD beat estimates in its latest quarter with $1.76 EPS vs. $1.63 expected and $11.01 billion in revenue (vs. $10.43B), with revenue up 18.1% year‑over‑year and a 14.29% return on equity.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Other analysts also recently issued research reports about the company. Weiss Ratings raised Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday, March 27th. National Bank Financial raised Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research report on Thursday, December 18th. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Finally, Zacks Research raised Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

Toronto Dominion Bank Price Performance

NYSE:TD opened at $100.70 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05. The stock's 50-day simple moving average is $95.74 and its 200 day simple moving average is $89.71. The company has a market cap of $167.77 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.14 and a beta of 0.65. Toronto Dominion Bank has a 52-week low of $56.51 and a 52-week high of $100.94.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.13. The business had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.Toronto Dominion Bank's quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.02 earnings per share. As a group, sell-side analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Toronto Dominion Bank

Institutional investors have recently bought and sold shares of the business. Bayban acquired a new position in Toronto Dominion Bank during the fourth quarter worth approximately $28,000. Harvest Fund Management Co. Ltd increased its position in Toronto Dominion Bank by 112.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock worth $30,000 after buying an additional 168 shares during the last quarter. True Wealth Design LLC acquired a new position in Toronto Dominion Bank during the third quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC acquired a new position in Toronto Dominion Bank during the fourth quarter worth approximately $34,000. Finally, Mather Group LLC. acquired a new position in Toronto Dominion Bank during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada's largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD's core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.

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