Toronto Dominion Bank (NYSE:TD) Cut to “Sell” at 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 Sunday.

Several other research analysts have also commented on TD. Zacks Research upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. Jefferies Financial Group cut Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Trading Up 1.2%

Shares of NYSE:TD opened at $96.99 on Friday. The company has a market capitalization of $162.09 billion, a PE ratio of 11.50, a P/E/G ratio of 1.29 and a beta of 0.67. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $54.87 and a 12-month high of $99.04. The business’s fifty day simple moving average is $94.61 and its 200-day simple moving average is $84.81.

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

Institutional Investors Weigh In On Toronto Dominion Bank

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in Toronto Dominion Bank during the 1st quarter worth approximately $568,000. Focus Partners Wealth boosted its holdings in shares of Toronto Dominion Bank by 27.7% in the 1st quarter. Focus Partners Wealth now owns 24,970 shares of the bank’s stock valued at $1,497,000 after acquiring an additional 5,410 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the second quarter worth $259,000. Bleakley Financial Group LLC purchased a new position in shares of Toronto Dominion Bank during the second quarter worth $796,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Toronto Dominion Bank during the second quarter valued at $226,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto Dominion Bank Company Profile

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.