Toronto-Dominion Bank (NYSE:TD) Stock Rating Lowered by StockNews.com

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Several other brokerages also recently weighed in on TD. Jefferies Financial Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Royal Bank of Canada dropped their price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Finally, National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, six have issued 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 company currently has an average rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $51.81 on Tuesday. The firm’s fifty day simple moving average is $55.62 and its 200-day simple moving average is $57.49. Toronto-Dominion Bank has a 12 month low of $51.63 and a 12 month high of $65.12. The stock has a market capitalization of $90.68 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TD. Mackenzie Financial Corp increased its stake in shares of Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock valued at $1,429,186,000 after acquiring an additional 218,807 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Toronto-Dominion Bank by 6.0% in the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after purchasing an additional 1,462,794 shares during the period. CIBC Asset Management Inc increased 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 worth $1,046,825,000 after purchasing an additional 853,313 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Toronto-Dominion Bank by 9.6% during 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 during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Toronto-Dominion Bank by 24.9% during 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 period. Hedge funds and other 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.