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

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was downgraded by equities researchers at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued on Thursday, Marketbeat Ratings reports.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD opened at $56.15 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12. The firm has a fifty day moving average price of $58.90 and a 200-day moving average price of $57.71. The stock has a market cap of $98.28 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82.

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, beating analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.48 earnings per share. Equities analysts anticipate that Toronto-Dominion Bank will post 5.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. raised its position in Toronto-Dominion Bank by 1.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock valued at $617,166,000 after purchasing an additional 144,427 shares during the period. Galibier Capital Management Ltd. raised its holdings in Toronto-Dominion Bank by 24.6% during the 3rd quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after buying an additional 119,978 shares during the period. Forsta AP Fonden lifted its position in Toronto-Dominion Bank by 3.2% in the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock worth $29,531,000 after buying an additional 14,500 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its stake in Toronto-Dominion Bank by 4.5% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,452,493 shares of the bank’s stock worth $91,948,000 after buying an additional 62,569 shares during the period. Finally, Williams Financial LLC bought a new position in Toronto-Dominion Bank during the second quarter valued at $10,454,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.