Weakness Seen in TD Bank (TD): Stock Falls 5.1%
The Toronto-Dominion Bank (TD) saw a big move last session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for TD, as the stock is now down nearly 7% since Nov 26.
This slump shouldn’t be too much of a surprise to investors, as the bank has seen two negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
TD currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Foreign Banking industry include The Royal Bank of Scotland Group plc (RBS), Itaú Unibanco Holding S.A. (ITUB) and Banco Latinoamericano de Comercio Exterior, S.A (BLX). While The Royal Bank of Scotland holds a Zacks Rank #1 (Strong Buy), Itaú Unibanco and Banco Latinoamericano carry a Zacks Rank #2 (Buy).
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TORONTO DOMINION BK ONT (TD): Free Stock Analysis Report
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