Wall Street Zen Downgrades Toronto Dominion Bank (NYSE:TD) to Sell

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Friday.

Other equities analysts have also recently issued reports about the stock. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Desjardins raised shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Toronto Dominion Bank currently has an average rating of “Hold” and an average price target of $93.00.

Toronto Dominion Bank Stock Performance

Shares of NYSE TD opened at $79.20 on Friday. The firm has a fifty day moving average price of $75.14 and a 200-day moving average price of $68.97. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $134.70 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 1.70 and a beta of 0.81. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $79.49.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced 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 firm had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 earnings per share. Equities analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Institutional Trading of Toronto Dominion Bank

Several hedge funds have recently added to or reduced their stakes in TD. Norges Bank acquired a new stake in Toronto Dominion Bank during the 2nd quarter worth approximately $1,543,639,000. Goldman Sachs Group Inc. lifted its holdings in Toronto Dominion Bank by 93.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank’s stock worth $732,252,000 after purchasing an additional 5,917,078 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its holdings in Toronto Dominion Bank by 48.9% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank’s stock worth $886,174,000 after purchasing an additional 4,853,498 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Toronto Dominion Bank by 81.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank’s stock worth $630,746,000 after purchasing an additional 4,729,657 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Toronto Dominion Bank during the 2nd quarter worth approximately $267,475,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto Dominion Bank Company Profile

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.