Toronto-Dominion Bank (NYSE:TD) Stock Rating Lowered by Royal Bank of Canada

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

A number of other brokerages have also recently issued reports on TD. UBS Group began coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Finally, StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Trading Down 6.4 %

TD opened at $59.45 on Friday. The company has a fifty day moving average price of $60.63 and a two-hundred day moving average price of $58.20. Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The company has a market cap of $103.95 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.85 and a beta of 0.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts predict that Toronto-Dominion Bank will post 5.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of large investors have recently made changes to their positions in TD. Voisard Asset Management Group Inc. purchased a new position in shares of Toronto-Dominion Bank during the fourth quarter valued at approximately $72,000. V Square Quantitative Management LLC boosted its stake in shares of 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 in the last quarter. Sierra Summit Advisors LLC bought a new position in Toronto-Dominion Bank in the fourth quarter worth about $259,000. Virtu Financial LLC bought a new stake in Toronto-Dominion Bank during the 4th quarter valued at approximately $1,379,000. Finally, Syon Capital LLC raised its position in shares of Toronto-Dominion Bank by 109.2% in the 4th quarter. Syon Capital LLC now owns 12,840 shares of the bank’s stock worth $830,000 after acquiring an additional 6,703 shares in the last quarter. 52.37% of the stock is owned by 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.