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

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “

Several other research analysts have also recently weighed in on TD. National Bank Financial cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 7th. Desjardins boosted their price target on shares of Toronto-Dominion Bank from C$110.00 to C$113.00 in a report on Monday, March 7th. StockNews.com began coverage on shares of Toronto-Dominion Bank in a report on Thursday, March 31st. They issued a “hold” rating for the company. Stifel Nicolaus reduced their target price on shares of Toronto-Dominion Bank from C$105.00 to C$104.00 in a research note on Friday, April 8th. Finally, CIBC cut shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a research report on Monday, April 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.38.

NYSE TD opened at $71.33 on Wednesday. The firm has a market cap of $128.78 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. The stock’s 50-day moving average is $78.53 and its two-hundred day moving average is $77.03. Toronto-Dominion Bank has a fifty-two week low of $62.81 and a fifty-two week high of $86.01. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94.

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last released its earnings results on Thursday, March 3rd. The bank reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.03. The business had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $10.28 billion. Toronto-Dominion Bank had a return on equity of 16.18% and a net margin of 30.57%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.42 earnings per share. On average, equities analysts expect that Toronto-Dominion Bank will post 6.39 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors raised its position in shares of Toronto-Dominion Bank by 6.5% during the fourth quarter. Capital Research Global Investors now owns 50,022,490 shares of the bank’s stock valued at $3,835,082,000 after buying an additional 3,059,059 shares during the last quarter. Norges Bank bought a new stake in shares of Toronto-Dominion Bank in the fourth quarter valued at about $1,698,122,000. The Manufacturers Life Insurance Company raised its holdings in Toronto-Dominion Bank by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 16,835,940 shares of the bank’s stock worth $1,411,693,000 after purchasing an additional 537,054 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Toronto-Dominion Bank by 413.8% during the fourth quarter. Schroder Investment Management Group now owns 13,351,504 shares of the bank’s stock valued at $1,294,830,000 after acquiring an additional 10,753,156 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Toronto-Dominion Bank by 4.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,427,653 shares of the bank’s stock valued at $799,593,000 after acquiring an additional 415,805 shares in the last quarter. 48.46% of the stock is currently owned by institutional investors.

About Toronto-Dominion Bank (Get Rating)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.

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