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

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

A number of other analysts have also recently weighed in on TD. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Jefferies Financial Group raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada cut their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Finally, Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Two 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Down 1.0 %

Shares of TD traded down $0.55 during midday trading on Tuesday, hitting $52.55. The company had a trading volume of 1,379,315 shares, compared to its average volume of 2,718,467. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. Toronto-Dominion Bank has a 52 week low of $51.74 and a 52 week high of $65.12. The company’s 50 day moving average price is $55.85 and its 200 day moving average price is $57.53. The stock has a market cap of $91.98 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.69 and a beta of 0.82.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several institutional investors and hedge funds have recently modified their holdings of TD. Mackenzie Financial Corp raised its holdings in Toronto-Dominion Bank by 0.8% in the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock worth $1,429,186,000 after acquiring an additional 218,807 shares during the period. 1832 Asset Management L.P. grew its stake in shares of 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 worth $1,418,159,000 after acquiring an additional 1,462,794 shares during the last quarter. 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 acquiring an additional 853,313 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Toronto-Dominion Bank by 9.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock valued at $759,449,000 after purchasing an additional 1,206,574 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Toronto-Dominion Bank by 24.9% in the 3rd 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 last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.