Cormark Lowers Earnings Estimates for Toronto-Dominion Bank

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Equities research analysts at Cormark reduced their FY2024 earnings per share estimates for Toronto-Dominion Bank in a report issued on Monday, November 25th. Cormark analyst L. Persaud now forecasts that the bank will earn $5.69 per share for the year, down from their prior 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.

Several other research analysts have also weighed in on the stock. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank has an average rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Price Performance

Shares of TD opened at $56.39 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a market cap of $98.70 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.92 and a beta of 0.82. The stock’s 50-day moving average price is $58.49 and its two-hundred day moving average price is $57.72. Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TD. Dunhill Financial LLC lifted its stake in Toronto-Dominion Bank by 164.9% in the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after acquiring an additional 249 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in Toronto-Dominion Bank during the second quarter worth $31,000. Blue Trust Inc. grew its position in Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after purchasing an additional 212 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in Toronto-Dominion Bank in the 2nd quarter valued at $49,000. Finally, BOKF NA lifted its position in Toronto-Dominion Bank by 203.6% during the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after buying an additional 680 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

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.