Toronto-Dominion Bank (NYSE:TD) Rating Lowered to Underweight at Barclays

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 research report issued to clients and investors on Thursday, MarketBeat reports.

TD has been the subject of several other reports. StockNews.com cut 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 cut shares of 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 equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Stock Up 0.2 %

Toronto-Dominion Bank stock opened at $55.94 on Thursday. The company has a 50 day moving average of $59.14 and a 200-day moving average of $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 has a twelve month low of $53.52 and a twelve month high of $65.12. The stock has a market capitalization of $97.91 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. The firm had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. On average, equities research analysts anticipate that Toronto-Dominion Bank will post 5.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in Toronto-Dominion Bank by 24.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after acquiring an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after purchasing an additional 2,279,864 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Toronto-Dominion Bank by 61.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after purchasing an additional 2,215,185 shares during the period. Quadrature Capital Ltd lifted its position in Toronto-Dominion Bank by 175.5% during the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after purchasing an additional 1,571,700 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Toronto-Dominion Bank by 6.0% during the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after buying an additional 1,462,794 shares in the last quarter. 52.37% of the stock is 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.