Toronto-Dominion Bank (NYSE:TD) Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a sell rating in a report released on Thursday morning.

A number of other research firms also recently commented on TD. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a neutral rating on the stock. Cibc World Mkts upgraded Toronto-Dominion Bank from a hold rating to a strong-buy rating in a research report on Friday, May 24th. BMO Capital Markets lowered their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a market perform rating on the stock in a research report on Friday, May 24th. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an underperform rating to a sector perform rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank has a consensus rating of Hold and an average price target of $88.00.

Toronto-Dominion Bank Stock Down 2.2 %

TD opened at $58.47 on Thursday. The stock’s 50 day moving average price is $56.71 and its 200 day moving average price is $57.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $102.17 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.62 and a beta of 0.82. Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The company had revenue of $10.18 billion for the quarter, compared to analyst estimates of $9.90 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. As a group, research analysts predict that Toronto-Dominion Bank will post 5.87 earnings per share for the current year.

Institutional Investors Weigh In On Toronto-Dominion Bank

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Toronto-Dominion Bank by 6.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,044,900 shares of the bank’s stock worth $132,141,000 after buying an additional 130,801 shares during the period. Dixon Mitchell Investment Counsel Inc. lifted its position in shares of Toronto-Dominion Bank by 2.7% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock valued at $83,881,000 after acquiring an additional 37,002 shares in the last quarter. Intech Investment Management LLC acquired a new position in Toronto-Dominion Bank in the 1st quarter worth approximately $6,454,000. FORA Capital LLC purchased a new position in Toronto-Dominion Bank during the 1st quarter worth approximately $4,025,000. Finally, V Square Quantitative Management LLC raised its stake in Toronto-Dominion Bank by 5,032.5% during the 4th quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 15,500 shares during the period. 52.37% of the stock is owned by hedge funds and other 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.