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

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. “

Other equities analysts have also issued reports about the company. BidaskClub raised Toronto Dominion Bank (The) from a sell rating to a hold rating in a research report on Tuesday, June 13th. Barclays PLC raised Toronto Dominion Bank (The) from an underweight rating to an equal weight rating in a research report on Tuesday, May 23rd. Canaccord Genuity began coverage on Toronto Dominion Bank (The) in a research report on Tuesday, July 18th. They set a buy rating on the stock. National Bank Financial reaffirmed a sector perform overweight rating on shares of Toronto Dominion Bank (The) in a research report on Thursday, May 18th. Finally, Royal Bank Of Canada upped their target price on Toronto Dominion Bank (The) from $68.00 to $70.00 and gave the stock a sector perform rating in a research report on Friday, May 26th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $61.71.

Toronto Dominion Bank (TD) traded up 0.14% during mid-day trading on Thursday, hitting $51.59. 616,862 shares of the stock were exchanged. The company has a market capitalization of $95.10 billion, a PE ratio of 12.84 and a beta of 0.89. The stock has a 50 day moving average price of $50.43 and a 200 day moving average price of $49.84. Toronto Dominion Bank has a 1-year low of $42.75 and a 1-year high of $54.44.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 25th. The bank reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. Toronto Dominion Bank (The) had a return on equity of 14.09% and a net margin of 22.56%. The company had revenue of $8.47 billion for the quarter, compared to analyst estimates of $8.72 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. Toronto Dominion Bank (The)’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that Toronto Dominion Bank will post $4.23 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 10th will be given a $0.444 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Thursday, July 6th. Toronto Dominion Bank (The)’s payout ratio is currently 48.18%.

Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its stake in Toronto Dominion Bank (The) by 25.5% in the first quarter. Meeder Asset Management Inc. now owns 2,187 shares of the bank’s stock worth $110,000 after buying an additional 444 shares during the last quarter. Pinnacle Bank bought a new stake in Toronto Dominion Bank (The) during the first quarter worth approximately $110,000. Cornerstone Advisors Inc. raised its stake in Toronto Dominion Bank (The) by 5.2% in the second quarter. Cornerstone Advisors Inc. now owns 2,319 shares of the bank’s stock worth $117,000 after buying an additional 114 shares during the last quarter. Cribstone Capital Management LLC raised its stake in Toronto Dominion Bank (The) by 47.3% in the second quarter. Cribstone Capital Management LLC now owns 2,341 shares of the bank’s stock worth $118,000 after buying an additional 752 shares during the last quarter. Finally, Baystate Wealth Management LLC bought a new stake in Toronto Dominion Bank (The) during the second quarter worth approximately $121,000. 52.58% of the stock is owned by institutional investors and hedge funds.

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.

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

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