Toronto Dominion Bank (NYSE:TD) Lowered to “Sell” Rating by Wall Street Zen

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Natl Bk Canada raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Finally, Royal Bank Of Canada raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock opened at $92.81 on Friday. The firm has a market capitalization of $156.80 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.69. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $93.30. The stock’s 50 day moving average price is $83.72 and its 200 day moving average price is $77.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $10.10 billion. During the same quarter last year, the firm posted $1.72 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in shares of Toronto Dominion Bank by 3.1% in the 1st quarter. American Century Companies Inc. now owns 344,422 shares of the bank’s stock worth $20,638,000 after buying an additional 10,285 shares during the last quarter. Algert Global LLC bought a new position in Toronto Dominion Bank in the first quarter worth about $256,000. Northern Trust Corp boosted its stake in Toronto Dominion Bank by 16.5% in the first quarter. Northern Trust Corp now owns 1,331,006 shares of the bank’s stock valued at $79,780,000 after acquiring an additional 188,437 shares during the period. Compound Planning Inc. grew its holdings in shares of Toronto Dominion Bank by 220.6% during the first quarter. Compound Planning Inc. now owns 13,371 shares of the bank’s stock valued at $801,000 after purchasing an additional 9,201 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Toronto Dominion Bank by 41.9% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank’s stock valued at $264,134,000 after purchasing an additional 1,302,281 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto Dominion Bank

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.