Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.
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. “
Separately, BMO Capital Markets reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $60.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, February 28th. The bank reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.13). The business had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.35 billion. Toronto-Dominion Bank had a return on equity of 16.36% and a net margin of 20.48%. As a group, equities analysts forecast that Toronto-Dominion Bank will post 5.07 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Capital Investment Advisory Services LLC bought a new stake in Toronto-Dominion Bank in the 4th quarter worth $27,000. Citizens Financial Group Inc RI bought a new stake in Toronto-Dominion Bank in the 1st quarter worth $28,000. Financial Gravity Wealth Inc. bought a new stake in Toronto-Dominion Bank in the 1st quarter worth $29,000. Farmers National Bank bought a new stake in Toronto-Dominion Bank in the 1st quarter worth $33,000. Finally, Country Trust Bank bought a new stake in Toronto-Dominion Bank in the 4th quarter worth $35,000. Institutional investors own 49.74% 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. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to 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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