Toronto-Dominion Bank (NYSE:TD) Cut to “Sell” at StockNews.com

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

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

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded down $0.55 during midday trading on Tuesday, reaching $52.55. 1,379,315 shares of the company’s stock were exchanged, compared to its average volume of 2,718,467. The firm has a market capitalization of $91.98 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company’s 50 day simple moving average is $55.85 and its two-hundred day simple moving average is $57.53. Toronto-Dominion Bank has a 12 month low of $51.74 and a 12 month high of $65.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.03.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of large investors have recently modified their holdings of the stock. Dunhill Financial LLC lifted its position in Toronto-Dominion Bank by 164.9% during the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after purchasing an additional 249 shares during the period. Blue Trust Inc. lifted its holdings in Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after buying an additional 212 shares during the period. Kimelman & Baird LLC bought a new position in Toronto-Dominion Bank in the second quarter valued at approximately $49,000. Morse Asset Management Inc acquired a new stake in Toronto-Dominion Bank during the 3rd quarter worth $63,000. Finally, Eastern Bank bought a new stake in shares of Toronto-Dominion Bank during the 3rd quarter valued at $66,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.