Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 recently issued research reports about the company. BidaskClub upgraded Toronto Dominion Bank (The) from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Barclays PLC upgraded Toronto Dominion Bank (The) from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. Canaccord Genuity began coverage on Toronto Dominion Bank (The) in a report on Tuesday, July 18th. They issued a “buy” rating for the company. National Bank Financial restated a “sector perform overweight” rating on shares of Toronto Dominion Bank (The) in a report on Thursday, May 18th. Finally, Royal Bank Of Canada upped their price target on Toronto Dominion Bank (The) from $68.00 to $70.00 and gave the stock a “sector perform” rating in a report on Friday, May 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Toronto Dominion Bank (The) presently has an average rating of “Buy” and a consensus price target of $61.71.
Shares of Toronto Dominion Bank (NYSE:TD) traded up 0.74% on Thursday, reaching $51.52. 1,231,830 shares of the company were exchanged. The company has a 50-day moving average price of $50.43 and a 200 day moving average price of $49.84. The stock has a market capitalization of $94.97 billion, a PE ratio of 12.83 and a beta of 0.89. 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 released its quarterly earnings results on Thursday, May 25th. The bank reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. The firm had revenue of $8.47 billion during the quarter, compared to analysts’ expectations of $8.72 billion. Toronto Dominion Bank (The) had a return on equity of 14.09% and a net margin of 22.56%. Toronto Dominion Bank (The)’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. On average, analysts forecast that Toronto Dominion Bank will post $4.23 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in TD. Parsec Financial Management Inc. boosted its position in Toronto Dominion Bank (The) by 1.4% in the second quarter. Parsec Financial Management Inc. now owns 253,119 shares of the bank’s stock valued at $12,752,000 after buying an additional 3,610 shares during the period. Mawer Investment Management Ltd. boosted its position in Toronto Dominion Bank (The) by 1.4% in the second quarter. Mawer Investment Management Ltd. now owns 7,090,834 shares of the bank’s stock valued at $356,401,000 after buying an additional 98,539 shares during the period. K.J. Harrison & Partners Inc boosted its position in Toronto Dominion Bank (The) by 4.4% in the second quarter. K.J. Harrison & Partners Inc now owns 93,057 shares of the bank’s stock valued at $4,684,000 after buying an additional 3,937 shares during the period. CAPROCK Group Inc. acquired a new position in Toronto Dominion Bank (The) during the second quarter valued at approximately $883,000. Finally, Rothschild Asset Management Inc. boosted its position in Toronto Dominion Bank (The) by 2.5% in the second quarter. Rothschild Asset Management Inc. now owns 44,231 shares of the bank’s stock valued at $2,882,000 after buying an additional 1,058 shares during the period. Institutional investors own 52.58% of the company’s stock.
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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