Toronto Dominion Bank (NYSE:TD) Stock Rating Lowered by Zacks Research

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

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

Toronto Dominion Bank Stock Performance

Shares of NYSE TD opened at $105.34 on Monday. Toronto Dominion Bank has a 12 month low of $62.56 and a 12 month high of $106.94. The company has a 50-day simple moving average of $97.81 and a 200-day simple moving average of $91.96. The company has a market cap of $174.46 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.05 and a quick ratio of 1.05.

Toronto Dominion Bank (NYSE:TD) (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. 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 the consensus estimate of $10.43 billion. During the same period in the previous year, the firm earned $2.02 earnings per share. Toronto Dominion Bank’s revenue was up 18.1% compared to the same quarter last year. On average, equities analysts anticipate that Toronto Dominion Bank will post 6.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TD. True Wealth Design LLC acquired a new position in shares of Toronto Dominion Bank during the third quarter worth $27,000. Bayban acquired a new position in shares of Toronto Dominion Bank during the fourth quarter worth $28,000. Mather Group LLC. acquired a new position in shares of Toronto Dominion Bank during the third quarter worth $30,000. Harvest Fund Management Co. Ltd lifted its position 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 purchasing an additional 168 shares in the last quarter. Finally, Sachetta LLC acquired a new position in shares of Toronto Dominion Bank during the third quarter worth $33,000. 52.37% of the stock is owned by institutional investors and hedge funds.

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.