Toronto-Dominion Bank (TD) Stock Rating Lowered by Zacks Investment Research
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
Several other equities research analysts have also issued reports on the company. Macquarie started coverage on Toronto-Dominion Bank in a research note on Tuesday, October 24th. They set an “outperform” rating for the company. Scotiabank reissued a “buy” rating and set a $83.00 price objective on shares of Toronto-Dominion Bank in a research note on Wednesday, November 22nd. CIBC raised Toronto-Dominion Bank from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 1st. Bank of America lifted their price objective on Toronto-Dominion Bank from $71.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Canaccord Genuity reissued a “buy” rating and set a $80.00 price objective on shares of Toronto-Dominion Bank in a research note on Thursday, November 30th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $77.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, November 30th. The bank reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.02). Toronto-Dominion Bank had a return on equity of 15.17% and a net margin of 23.09%. The company had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $7.13 billion. research analysts anticipate that Toronto-Dominion Bank will post 4.69 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Icon Wealth Partners LLC purchased a new stake in Toronto-Dominion Bank during the fourth quarter valued at about $102,000. Advisory Services Network LLC raised its position in Toronto-Dominion Bank by 26.1% during the second quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock valued at $119,000 after purchasing an additional 487 shares in the last quarter. Calton & Associates Inc. purchased a new stake in Toronto-Dominion Bank during the fourth quarter valued at about $141,000. Teachers Advisors LLC raised its position in Toronto-Dominion Bank by 3.7% during the second quarter. Teachers Advisors LLC now owns 2,556 shares of the bank’s stock valued at $129,000 after purchasing an additional 92 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in Toronto-Dominion Bank during the fourth quarter valued at about $176,000. 49.02% of the stock is owned by institutional investors.
About Toronto-Dominion Bank
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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