Toronto Dominion Bank (NYSE:TD) Rating Lowered to “Sell” at Wall Street Zen

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 to investors on Saturday.

Several other analysts have also weighed in on TD. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. Natl Bk Canada upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 17th. Jefferies Financial Group cut Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Raymond James Financial upgraded Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Stock Performance

TD opened at $94.25 on Friday. The stock’s 50 day simple moving average is $87.84 and its 200-day simple moving average is $80.40. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The stock has a market cap of $159.23 billion, a PE ratio of 11.18, a P/E/G ratio of 1.31 and a beta of 0.67. Toronto Dominion Bank has a 1 year low of $53.03 and a 1 year high of $96.44.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.72 earnings per share. Sell-side analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Hedge Funds Weigh In On Toronto Dominion Bank

Several institutional investors have recently bought and sold shares of TD. Vanguard Group Inc. grew its holdings in shares of Toronto Dominion Bank by 3.4% during the second quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock worth $5,677,291,000 after purchasing an additional 2,552,603 shares during the last quarter. TD Asset Management Inc lifted its position in Toronto Dominion Bank by 0.7% during the 3rd quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock worth $3,008,096,000 after buying an additional 246,999 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Toronto Dominion Bank by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank’s stock worth $1,656,213,000 after buying an additional 101,678 shares in the last quarter. Canerector Inc. grew its holdings in Toronto Dominion Bank by 11,028.0% during the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after acquiring an additional 22,056,000 shares during the last quarter. Finally, Norges Bank acquired a new stake in Toronto Dominion Bank in the 2nd quarter valued at about $1,543,639,000. Institutional investors own 52.37% of the company’s stock.

About Toronto Dominion Bank

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.