Toronto-Dominion Bank (NYSE:TD) Downgraded by Royal Bank of Canada

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued on Friday, Marketbeat reports.

Other equities research analysts have also issued research reports about the stock. UBS Group assumed coverage on shares of Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Stock Down 4.1 %

Shares of NYSE:TD opened at $57.01 on Friday. The business’s 50 day moving average is $60.64 and its 200 day moving average is $58.17. Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The stock has a market cap of $99.68 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.73 and a beta of 0.81. 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 data on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 6.94% and a return on equity of 14.34%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 EPS. On average, sell-side analysts forecast that Toronto-Dominion Bank will post 5.84 earnings per share for the current fiscal year.

Institutional Trading of Toronto-Dominion Bank

Large investors have recently bought and sold shares of the company. National Bank of Canada FI grew its stake in shares of Toronto-Dominion Bank by 6.2% during the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock worth $1,677,917,000 after acquiring an additional 1,736,931 shares during the period. Mackenzie Financial Corp lifted its holdings in 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 purchasing an additional 218,807 shares during the last quarter. 1832 Asset Management L.P. boosted its position 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 purchasing an additional 1,462,794 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of 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 worth $759,449,000 after purchasing an additional 1,206,574 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Toronto-Dominion Bank by 3.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,884,896 shares of the bank’s stock worth $653,194,000 after purchasing an additional 358,283 shares in the last quarter. 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.