Toronto-Dominion Bank (NYSE:TD) Downgraded to “Underweight” Rating by Barclays

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

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Stock Performance

Toronto-Dominion Bank stock opened at $55.94 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 business has a 50 day moving average of $59.14 and a 200-day moving average of $57.71. The company has a market capitalization of $97.91 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.59 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 earnings per share. On average, equities research analysts predict that Toronto-Dominion Bank will post 5.76 earnings per share for the current year.

Institutional Investors Weigh In On Toronto-Dominion Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CreativeOne Wealth LLC bought a new position in Toronto-Dominion Bank during the first quarter valued at about $245,000. EP Wealth Advisors LLC increased its stake in shares of Toronto-Dominion Bank by 7.2% during the 1st quarter. EP Wealth Advisors LLC now owns 10,546 shares of the bank’s stock worth $637,000 after purchasing an additional 704 shares during the last quarter. Bank of Nova Scotia Trust Co. raised its holdings in shares of Toronto-Dominion Bank by 1.7% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 902,572 shares of the bank’s stock worth $54,497,000 after purchasing an additional 15,457 shares during the period. Magnetar Financial LLC purchased a new position in Toronto-Dominion Bank in the first quarter valued at approximately $3,501,000. Finally, BOKF NA grew its holdings in Toronto-Dominion Bank by 203.6% during the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after purchasing an additional 680 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.