Toronto-Dominion Bank (NYSE:TD) Downgraded by ValuEngine

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, ValuEngine reports.

A number of other research analysts have also weighed in on the stock. National Bank Financial set a $84.00 price objective on shares of Toronto-Dominion Bank and gave the company a “buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Toronto-Dominion Bank in a research note on Monday, October 7th. CSFB lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $76.00 to $74.00 in a research note on Monday, October 28th. Desjardins dropped their price objective on shares of Toronto-Dominion Bank from $83.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Bank of America lowered shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $82.00 to $77.00 in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Toronto-Dominion Bank has an average rating of “Hold” and a consensus target price of $78.36.

NYSE:TD opened at $57.86 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $105.35 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.79 and a beta of 1.06. The firm has a fifty day simple moving average of $56.83 and a two-hundred day simple moving average of $56.65. Toronto-Dominion Bank has a 12 month low of $47.73 and a 12 month high of $59.55.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 29th. The bank reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.45. The business had revenue of $10.50 billion during the quarter, compared to analysts’ expectations of $9.80 billion. Toronto-Dominion Bank had a net margin of 20.02% and a return on equity of 16.08%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.66 earnings per share. Equities analysts predict that Toronto-Dominion Bank will post 5.17 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. Neville Rodie & Shaw Inc. lifted its position in shares of Toronto-Dominion Bank by 1.8% during the second quarter. Neville Rodie & Shaw Inc. now owns 22,988 shares of the bank’s stock valued at $1,342,000 after purchasing an additional 400 shares in the last quarter. Bath Savings Trust Co bought a new position in shares of Toronto-Dominion Bank during the second quarter valued at about $216,000. Cox Capital Mgt LLC lifted its position in shares of Toronto-Dominion Bank by 3.9% during the second quarter. Cox Capital Mgt LLC now owns 14,304 shares of the bank’s stock valued at $835,000 after purchasing an additional 537 shares in the last quarter. Calton & Associates Inc. lifted its position in shares of Toronto-Dominion Bank by 5.4% during the second quarter. Calton & Associates Inc. now owns 5,029 shares of the bank’s stock valued at $293,000 after purchasing an additional 257 shares in the last quarter. Finally, Surevest Inc. lifted its position in shares of Toronto-Dominion Bank by 3.1% during the second quarter. Surevest Inc. now owns 13,157 shares of the bank’s stock valued at $768,000 after purchasing an additional 396 shares in the last quarter. 47.71% of the stock is currently owned by hedge funds and other institutional investors.

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

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