Jefferies Financial Group Downgrades Toronto Dominion Bank (NYSE:TD) to Hold

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

TD has been the subject of several other reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 3rd. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Desjardins upgraded shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Stock Performance

Shares of TD stock opened at $83.40 on Tuesday. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $83.57. The company has a market cap of $140.91 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.68 and a beta of 0.79. The firm has a 50-day moving average of $80.65 and a 200-day moving average of $75.23. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.45. The business had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. Equities research analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Independence Financial Advisors LLC purchased a new stake in shares of Toronto Dominion Bank in the first quarter worth about $243,000. Natixis Advisors LLC increased its holdings in Toronto Dominion Bank by 57.1% during the 1st quarter. Natixis Advisors LLC now owns 67,083 shares of the bank’s stock worth $4,021,000 after acquiring an additional 24,378 shares during the period. Brentview Investment Management LLC purchased a new stake in Toronto Dominion Bank in the 1st quarter worth approximately $40,000. US Bancorp DE lifted its stake in Toronto Dominion Bank by 19.1% in the 1st quarter. US Bancorp DE now owns 19,666 shares of the bank’s stock worth $1,179,000 after purchasing an additional 3,154 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its holdings in Toronto Dominion Bank by 2.9% in the 1st quarter. Alberta Investment Management Corp now owns 4,629,156 shares of the bank’s stock valued at $277,347,000 after purchasing an additional 131,158 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Toronto Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.