Toronto-Dominion Bank (TD) is Downgraded by CIBC to Sector Perform

Toronto-Dominion Bank (TD) was Downgraded by CIBC to ” Sector Perform”. Earlier the firm had a rating of “Sector Outperform ” on the company shares. CIBC advised their investors in a research report released on Aug 26, 2016.

Many Wall Street Analysts have commented on Toronto-Dominion Bank. Toronto-Dominion Bank was Resumed by BofA/Merrill to “Buy” on Jul 12, 2016.

On the company’s financial health, Toronto-Dominion Bank reported $1.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 25, 2016. Analyst had a consensus of $1.21. The company had revenue of $8701.00 million for the quarter, compared to analysts expectations of $8082.08 million. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS.

Toronto-Dominion Bank opened for trading at $44.21 and hit $44.565 on the upside on Tuesday, eventually ending the session at $44.26, with a gain of 0.77% or 0.34 points. The heightened volatility saw the trading volume jump to 15,69,924 shares. Company has a market cap of $82,036 M.

The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank conducts its business through segments such as Canadian Retail U.S. Retail Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses including credit cards auto finance wealth and insurance businesses. U.S. Retail consists of the Bank’s retail and commercial banking operations operating under the brand TD Bank America’s Most Convenient Bank and wealth management services in the United States. Wholesale Banking provides a range of capital markets investment banking and corporate banking products and services including underwriting and distribution of new debt and equity issues providing advice on strategic acquisitions and divestitures and meeting the daily trading funding and investment needs of its clients. The Bank is also an online financial services firm.

Toronto-Dominion Bank

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