Toronto-Dominion Bank (TD) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a report issued on Friday 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 topic of several other reports. TheStreet raised shares of Toronto-Dominion Bank from a c+ rating to a b rating in a report on Tuesday, September 4th. ValuEngine downgraded shares of Toronto-Dominion Bank from a hold rating to a sell rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $79.00.

NYSE TD traded down $0.42 on Friday, hitting $55.46. The stock had a trading volume of 935,860 shares, compared to its average volume of 1,568,812. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10. Toronto-Dominion Bank has a 52-week low of $54.37 and a 52-week high of $62.00. The firm has a market capitalization of $102.69 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.99 and a beta of 1.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 30th. The bank reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.43. Toronto-Dominion Bank had a net margin of 21.82% and a return on equity of 16.63%. The business had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same period in the previous year, the company earned $1.51 earnings per share. As a group, sell-side analysts predict that Toronto-Dominion Bank will post 4.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th were paid a dividend of $0.5144 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $2.06 annualized dividend and a dividend yield of 3.71%. Toronto-Dominion Bank’s payout ratio is currently 49.06%.

Large investors have recently bought and sold shares of the company. First Manhattan Co. lifted its stake in shares of Toronto-Dominion Bank by 106.9% during the third quarter. First Manhattan Co. now owns 1,970 shares of the bank’s stock worth $119,000 after buying an additional 1,018 shares during the period. Huntington National Bank increased its stake in shares of Toronto-Dominion Bank by 216.9% during the third quarter. Huntington National Bank now owns 2,114 shares of the bank’s stock worth $129,000 after purchasing an additional 1,447 shares in the last quarter. Destination Wealth Management purchased a new stake in shares of Toronto-Dominion Bank during the second quarter worth about $139,000. Quad Cities Investment Group LLC purchased a new stake in Toronto-Dominion Bank during the 2nd quarter valued at about $139,000. Finally, Atlas Capital Advisors LLC boosted its holdings in Toronto-Dominion Bank by 1,361.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 2,455 shares of the bank’s stock valued at $142,000 after purchasing an additional 2,287 shares during the last quarter. Institutional investors and hedge funds own 47.54% of the company’s stock.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

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