Toronto Dominion Bank (NYSE:TD) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Toronto Dominion Bank from a "strong-buy" to a "hold" rating.
• Analyst views are mixed but the MarketBeat consensus remains a "Moderate Buy" with a $93 price target, based on 2 Strong Buy, 2 Buy and 5 Hold ratings.
• TD beat quarterly estimates with EPS of $1.76 vs. $1.63 and revenue of $11.01 billion (up 18.1% year‑over‑year); the stock trades near its 52‑week high and has a market cap of about $174.5 billion (P/E 11.64).

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Canadian Imperial Bank of Commerce cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

Toronto Dominion Bank Stock Down 0.3%

Shares of NYSE TD opened at $105.34 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52 week low of $62.56 and a 52 week high of $106.94. The firm has a 50-day moving average price of $97.81 and a 200 day moving average price of $91.96. The stock has a market capitalization of $174.46 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.20 and a beta of 0.65.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, beating the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The firm had revenue of $11.01 billion during the quarter, compared to analysts' expectations of $10.43 billion. During the same quarter last year, the business earned $2.02 earnings per share. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. Equities research analysts anticipate that Toronto Dominion Bank will post 6.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Toronto Dominion Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new stake in shares of Toronto Dominion Bank during the third quarter worth about $27,000. Bayban purchased a new stake in shares of Toronto Dominion Bank during the fourth quarter worth about $28,000. Mather Group LLC. purchased a new stake in shares of Toronto Dominion Bank during the third quarter worth about $30,000. Harvest Fund Management Co. Ltd grew its holdings in shares of 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 in the last quarter. Finally, Sachetta LLC purchased a new stake in shares of Toronto Dominion Bank during the third quarter worth about $33,000. 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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