Zacks Investment Research Downgrades Toronto-Dominion Bank (NYSE:TD) to Hold

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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 research analysts have also recently commented on the stock. National Bankshares upgraded shares of Toronto-Dominion Bank to a “buy” rating and set a $93.00 price target for the company in a research note on Friday, October 1st. BMO Capital Markets cut their price target on shares of Toronto-Dominion Bank from C$96.00 to C$94.00 and set a “market perform” rating for the company in a research note on Friday, August 27th. Scotiabank lifted their target price on shares of Toronto-Dominion Bank from C$94.00 to C$104.00 and gave the company a “sector perform” rating in a research note on Tuesday. National Bank Financial upgraded Toronto-Dominion Bank from a “sector perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research report on Friday, October 1st. Finally, Barclays upgraded Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $89.00 price objective for the company in a research report on Tuesday, September 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $88.70.

Toronto-Dominion Bank stock opened at $75.62 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $137.83 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.95 and a beta of 1.04. Toronto-Dominion Bank has a one year low of $53.35 and a one year high of $75.73. The company’s fifty day moving average price is $70.68 and its two-hundred day moving average price is $69.52.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Wednesday, August 25th. The bank reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.04. The company had revenue of $10.71 billion for the quarter, compared to the consensus estimate of $9.82 billion. Toronto-Dominion Bank had a return on equity of 15.26% and a net margin of 31.71%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. As a group, sell-side analysts anticipate that Toronto-Dominion Bank will post 6.16 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Herold Advisors Inc. acquired a new position in Toronto-Dominion Bank in the third quarter valued at about $26,000. Atlas Capital Advisors LLC acquired a new stake in shares of Toronto-Dominion Bank during the second quarter worth about $30,000. Optiver Holding B.V. acquired a new stake in shares of Toronto-Dominion Bank during the first quarter worth about $29,000. Destiny Wealth Partners LLC acquired a new stake in shares of Toronto-Dominion Bank during the third quarter worth about $30,000. Finally, Parisi Gray Wealth Management acquired a new stake in shares of Toronto-Dominion Bank during the second quarter worth about $33,000. 48.33% of the stock is currently owned by hedge funds and other institutional investors.

About Toronto-Dominion Bank

The Toronto-Dominion Bank engages in providing financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.

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