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

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

Several other brokerages have also commented on TD. Jefferies Financial Group lowered Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. Zacks Research upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Finally, Canadian Imperial Bank of Commerce lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Toronto Dominion Bank currently has an average rating of “Moderate Buy” and an average price target of $93.00.

Toronto Dominion Bank Stock Down 1.2%

Shares of NYSE TD opened at $95.83 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $160.15 billion, a PE ratio of 11.37, a P/E/G ratio of 1.29 and a beta of 0.67. Toronto Dominion Bank has a one year low of $54.87 and a one year high of $99.04. The business’s fifty day moving average price is $94.69 and its 200-day moving average price is $85.05.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $10.10 billion. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 EPS. On average, equities research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Toronto Dominion Bank during the fourth quarter valued at approximately $2,125,963,000. Canerector Inc. grew its stake in shares of Toronto Dominion Bank by 11,028.0% during the third 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. Picton Mahoney Asset Management acquired a new position in Toronto Dominion Bank during the 2nd quarter valued at approximately $267,475,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Toronto Dominion Bank by 41.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock worth $1,121,660,000 after acquiring an additional 3,496,645 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new position in shares of Toronto Dominion Bank in the fourth quarter worth about $299,850,000. 52.37% of the stock is currently owned by institutional investors.

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.