Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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. “

TD has been the topic of a number of other reports. Bank of America Corporation reissued a “buy” rating on shares of Toronto Dominion Bank (The) in a research report on Friday, September 1st. BidaskClub raised shares of Toronto Dominion Bank (The) from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Scotiabank raised shares of Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a research report on Monday, August 21st. Macquarie initiated coverage on shares of Toronto Dominion Bank (The) in a research report on Tuesday, October 24th. They set an “outperform” rating on the stock. Finally, Canaccord Genuity reissued a “buy” rating and set a $72.00 target price on shares of Toronto Dominion Bank (The) in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.33.

Shares of Toronto Dominion Bank (NYSE:TD) opened at $57.33 on Thursday. Toronto Dominion Bank has a twelve month low of $45.18 and a twelve month high of $57.79. The stock has a market cap of $106,423.50, a P/E ratio of 14.15, a P/E/G ratio of 1.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.96.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. Toronto Dominion Bank (The) had a net margin of 22.85% and a return on equity of 14.71%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.05 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. Toronto Dominion Bank (The)’s revenue was up 6.7% compared to the same quarter last year. equities analysts anticipate that Toronto Dominion Bank will post 4.44 EPS for the current year.

Toronto Dominion Bank (The) announced that its Board of Directors has authorized a share buyback program on Thursday, August 31st that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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Several large investors have recently modified their holdings of TD. Public Sector Pension investment Board raised its holdings in shares of Toronto Dominion Bank (The) by 1,745.0% during the second quarter. Public Sector Pension investment Board now owns 3,658,692 shares of the bank’s stock worth $184,104,000 after purchasing an additional 3,881,100 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Toronto Dominion Bank (The) by 3,364.0% during the second quarter. Canada Pension Plan Investment Board now owns 2,899,388 shares of the bank’s stock worth $145,896,000 after acquiring an additional 2,815,688 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Toronto Dominion Bank (The) by 44.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,535,700 shares of the bank’s stock worth $329,248,000 after acquiring an additional 2,022,507 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Toronto Dominion Bank (The) by 5.1% during the second quarter. Vanguard Group Inc. now owns 41,532,070 shares of the bank’s stock worth $2,092,385,000 after acquiring an additional 2,014,823 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Toronto Dominion Bank (The) by 45.9% during the second quarter. Capital International Investors now owns 5,258,400 shares of the bank’s stock worth $264,918,000 after acquiring an additional 1,654,000 shares during the last quarter. 47.65% of the stock is currently owned by institutional investors.

About Toronto Dominion Bank (The)

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.

Analyst Recommendations for Toronto Dominion Bank (The) (NYSE:TD)

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