Cormark Reduces Earnings Estimates for Toronto-Dominion Bank

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Stock analysts at Cormark decreased their FY2024 earnings estimates for Toronto-Dominion Bank in a research report issued to clients and investors on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the bank will post earnings per share of $5.69 for the year, down from their previous estimate of $5.84. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.46 per share. Cormark also issued estimates for Toronto-Dominion Bank’s Q4 2024 earnings at $1.30 EPS.

Other research analysts also recently issued reports about the company. Barclays downgraded Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $55.88 on Wednesday. The company has a market capitalization of $97.81 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.92 and a beta of 0.82. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $65.12. The stock has a fifty day simple moving average of $58.62 and a 200 day simple moving average of $57.73.

Institutional Investors Weigh In On Toronto-Dominion Bank

A number of hedge funds have recently added to or reduced their stakes in TD. BOKF NA increased its stake in shares of Toronto-Dominion Bank by 203.6% in the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after acquiring an additional 680 shares in the last quarter. Virtu Financial LLC increased its stake in Toronto-Dominion Bank by 41.6% in the first quarter. Virtu Financial LLC now owns 30,219 shares of the bank’s stock valued at $1,825,000 after purchasing an additional 8,885 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Toronto-Dominion Bank during the first quarter valued at about $1,388,000. Cetera Investment Advisers boosted its position in shares of Toronto-Dominion Bank by 173.2% during the 1st quarter. Cetera Investment Advisers now owns 74,887 shares of the bank’s stock worth $4,522,000 after purchasing an additional 47,477 shares in the last quarter. Finally, Cetera Advisors LLC grew its stake in shares of Toronto-Dominion Bank by 217.1% in the 1st quarter. Cetera Advisors LLC now owns 34,664 shares of the bank’s stock valued at $2,093,000 after buying an additional 23,732 shares during the period. 52.37% of the stock is currently owned by institutional investors.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.