Barclays Downgrades Toronto-Dominion Bank (NYSE:TD) to Underweight

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by stock analysts at Barclays from an “equal weight” rating to an “underweight” rating in a report released on Thursday, MarketBeat reports.

Several other analysts also recently weighed in on TD. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. Finally, National Bank Financial raised 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Stock Performance

TD stock opened at $56.15 on Thursday. Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $65.12. The firm has a market cap of $98.28 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.59 and a beta of 0.82. The business’s fifty day simple moving average is $58.90 and its two-hundred day simple moving average is $57.71. 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 (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.49 by $0.56. The company had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Analysts predict that Toronto-Dominion Bank will post 5.76 earnings per share for the current year.

Institutional Trading of Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently bought and sold shares of TD. Mackenzie Financial Corp lifted its position in shares of Toronto-Dominion Bank by 0.8% during the second quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock valued at $1,429,186,000 after buying an additional 218,807 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Toronto-Dominion Bank by 6.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after acquiring an additional 1,462,794 shares in the last quarter. CIBC Asset Management Inc lifted its position in Toronto-Dominion Bank by 5.4% during the third quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock valued at $1,046,825,000 after acquiring an additional 853,313 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Toronto-Dominion Bank by 9.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock valued at $759,449,000 after acquiring an additional 1,206,574 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after purchasing an additional 2,689,532 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Company Profile

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.