Zacks Investment Research lowered shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a research report released on Thursday morning.

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. “

TD has been the subject of a number of other research reports. Bank of America Corporation reissued a buy rating on shares of Toronto Dominion Bank (The) in a research report on Friday, September 1st. BidaskClub cut shares of Toronto Dominion Bank (The) from a buy rating to a hold rating in a research report on Friday, July 28th. National Bank Financial raised shares of Toronto Dominion Bank (The) from a sector perform rating to an outperform rating in a research report on Friday, September 1st. Scotiabank raised shares of Toronto Dominion Bank (The) from a sector perform rating to an outperform rating in a research report on Monday, August 21st. Finally, Howard Weil raised shares of Toronto Dominion Bank (The) to an outperform rating in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $66.33.

Toronto Dominion Bank (NYSE:TD) traded down $0.24 during mid-day trading on Thursday, reaching $57.33. 564,535 shares of the company’s stock were exchanged, compared to its average volume of 1,520,147. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.96 and a current ratio of 0.96. Toronto Dominion Bank has a 1 year low of $45.18 and a 1 year high of $57.79. The company has a market capitalization of $105,620.00, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.91.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 31st. The bank reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.06. Toronto Dominion Bank (The) had a net margin of 22.85% and a return on equity of 14.71%. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.05 billion. During the same period in the previous year, the business posted $1.27 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. research analysts expect that Toronto Dominion Bank will post 4.44 EPS for the current fiscal year.

WARNING: This report was reported by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/toronto-dominion-bank-the-td-lowered-to-sell-at-zacks-investment-research/1694426.html.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Thursday, October 5th. This is an increase from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. Toronto Dominion Bank (The)’s payout ratio is 44.60%.

Toronto Dominion Bank (The) declared that its board has approved a share buyback plan on Thursday, August 31st that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its stake in Toronto Dominion Bank (The) by 10.0% during the second quarter. Parallel Advisors LLC now owns 2,151 shares of the bank’s stock worth $111,000 after acquiring an additional 196 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in Toronto Dominion Bank (The) by 5.2% during the second quarter. Cornerstone Advisors Inc. now owns 2,319 shares of the bank’s stock worth $117,000 after acquiring an additional 114 shares in the last quarter. Cribstone Capital Management LLC raised its stake in Toronto Dominion Bank (The) by 47.3% during the second quarter. Cribstone Capital Management LLC now owns 2,341 shares of the bank’s stock worth $118,000 after acquiring an additional 752 shares in the last quarter. Advisory Services Network LLC raised its stake in Toronto Dominion Bank (The) by 26.1% during the second quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock worth $119,000 after acquiring an additional 487 shares in the last quarter. Finally, Ropes Wealth Advisors LLC raised its stake in Toronto Dominion Bank (The) by 18.8% during the second quarter. Ropes Wealth Advisors LLC now owns 2,376 shares of the bank’s stock worth $120,000 after acquiring an additional 376 shares in the last quarter. 47.65% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank (The) Company Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

Analyst Recommendations for Toronto Dominion Bank (The) (NYSE:TD)

Receive News & Ratings for Toronto Dominion Bank (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toronto Dominion Bank (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.