Toronto-Dominion Bank (NYSE:TD) Lowered to "Sector Perform" Rating by Scotiabank

13 days ago

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TorontoDominion Bank NYSETD Lowered to Sector Perform Rating by
Scotiabank

Scotiabank cut Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a research note on Friday.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD was downgraded by equities researchers at Scotiabank from a "sector outperform" rating to a "sector perform" rating in a research note issued on Friday, Marketbeat reports.

Other research analysts also recently issued research reports about the stock. National Bank Financial upgraded shares of Toronto-Dominion Bank from an "underperform" rating to a "sector perform" rating in a research report on Thursday, August 22nd. Barclays cut shares of Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a research note on Thursday, November 21st. StockNews.com cut shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research 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 research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank currently has an average rating of "Hold" and an average price target of $80.50.

Check Out Our Latest Research Report on Toronto-Dominion Bank

Toronto-Dominion Bank Price Performance

TD traded down $0.84 during trading on Friday, hitting $51.96. The company's stock had a trading volume of 5,095,462 shares, compared to its average volume of 1,738,995. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $90.94 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82. The firm's 50 day moving average price is $57.53 and its two-hundred day moving average price is $57.67. Toronto-Dominion Bank has a 12 month low of $51.74 and a 12 month high of $65.12.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several hedge funds have recently added to or reduced their stakes in TD. Mackenzie Financial Corp increased its stake in Toronto-Dominion Bank by 0.8% in the second quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank's stock valued at $1,429,186,000 after purchasing an additional 218,807 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Toronto-Dominion Bank by 6.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank's stock valued at $1,418,159,000 after buying an additional 1,462,794 shares in the last quarter. CIBC Asset Management Inc raised its stake in Toronto-Dominion Bank by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank's stock worth $1,046,825,000 after buying an additional 853,313 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Toronto-Dominion Bank by 9.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank's stock worth $759,449,000 after acquiring an additional 1,206,574 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in 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 valued at $854,815,000 after acquiring an additional 2,689,532 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

About Toronto-Dominion Bank

(Get Free Report)

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.