Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday.

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 equities research analysts have also recently weighed in on TD. BidaskClub upgraded Toronto Dominion Bank (The) from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Canaccord Genuity started coverage on Toronto Dominion Bank (The) in a research note on Tuesday, July 18th. They issued a “buy” rating for the company. Howard Weil upgraded Toronto Dominion Bank (The) to an “outperform” rating in a research note on Monday, August 21st. Scotiabank upgraded Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 21st. Finally, National Bank Financial upgraded Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a research note on Friday, September 1st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $66.33.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. Toronto Dominion Bank (The) had a return on equity of 14.71% and a net margin of 22.85%. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.05 billion. During the same quarter in the previous year, the business earned $1.27 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year.

Toronto Dominion Bank (The) announced that its board has approved a stock buyback program on Thursday, August 31st that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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Several institutional investors have recently added to or reduced their stakes in TD. Parallel Advisors LLC raised its stake in shares of Toronto Dominion Bank (The) by 10.0% during the second quarter. Parallel Advisors LLC now owns 2,151 shares of the bank’s stock worth $111,000 after purchasing an additional 196 shares during the last quarter. Cornerstone Advisors Inc. raised its stake in shares of Toronto Dominion Bank (The) by 5.2% during the second quarter. Cornerstone Advisors Inc. now owns 2,319 shares of the bank’s stock worth $117,000 after purchasing an additional 114 shares during the last quarter. Cribstone Capital Management LLC raised its stake in shares of Toronto Dominion Bank (The) by 47.3% during the second quarter. Cribstone Capital Management LLC now owns 2,341 shares of the bank’s stock worth $118,000 after purchasing an additional 752 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Toronto Dominion Bank (The) by 26.1% during the second quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock worth $119,000 after purchasing an additional 487 shares during the last quarter. Finally, Ropes Wealth Advisors LLC raised its stake in shares of Toronto Dominion Bank (The) by 18.8% during the second quarter. Ropes Wealth Advisors LLC now owns 2,376 shares of the bank’s stock worth $120,000 after purchasing an additional 376 shares during the last quarter. Institutional investors and hedge funds own 47.74% of the company’s stock.

Toronto Dominion Bank (The) Company Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

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Analyst Recommendations for Toronto Dominion Bank (The) (NYSE:TD)

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