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

Barclays cut shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from an equal weight rating to an underweight rating in a research report sent to investors on Thursday, MarketBeat.com reports.

Other analysts have also issued reports about 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. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $56.16 on Thursday. The company has a 50-day simple moving average of $58.90 and a 200 day simple moving average of $57.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. The company has a market capitalization of $98.30 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.93 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.56. The firm had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.48 earnings per share. On average, research analysts predict that Toronto-Dominion Bank will post 5.46 EPS for the current year.

Institutional Trading of Toronto-Dominion Bank

A number of hedge funds have recently made changes to their positions in the stock. Dunhill Financial LLC lifted its holdings in shares of Toronto-Dominion Bank by 164.9% in the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after acquiring an additional 249 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Toronto-Dominion Bank in the second quarter worth about $31,000. Blue Trust Inc. lifted its stake in shares of Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after acquiring an additional 212 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in Toronto-Dominion Bank during the 2nd quarter valued at about $49,000. Finally, Morse Asset Management Inc purchased a new stake in Toronto-Dominion Bank during the 3rd quarter valued at about $63,000. 52.37% of the stock is owned by 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.