Toronto-Dominion Bank (NYSE:TD) Upgraded at StockNews.com

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

Several other research firms have also issued reports on TD. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Royal Bank of Canada cut their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday. Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded up $0.69 on Monday, hitting $52.65. The company’s stock had a trading volume of 2,574,201 shares, compared to its average volume of 2,736,162. The company has a 50-day simple moving average of $57.09 and a 200 day simple moving average of $57.64. Toronto-Dominion Bank has a 1 year low of $51.74 and a 1 year high of $65.12. The company has a market capitalization of $92.15 billion, a PE ratio of 15.17, a PEG ratio of 1.79 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

Institutional Investors Weigh In On Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TD. The Manufacturers Life Insurance Company raised its holdings in shares of Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after buying an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Toronto-Dominion Bank by 61.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after buying an additional 2,279,864 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Toronto-Dominion Bank by 61.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after buying an additional 2,215,185 shares during the period. Quadrature Capital Ltd raised its holdings in shares of Toronto-Dominion Bank by 175.5% in the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after buying an additional 1,571,700 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings 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 buying an additional 1,462,794 shares during the period. 52.37% of the stock is currently 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.