Royal Bank of Canada Has Lowered Expectations for Toronto-Dominion Bank (NYSE:TD) Stock Price

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) had its target price lowered by analysts at Royal Bank of Canada from $82.00 to $77.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 47.71% from the stock’s current price.

A number of other analysts also recently issued reports on TD. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday. Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Trading Down 1.3 %

Toronto-Dominion Bank stock traded down $0.67 during mid-day trading on Friday, hitting $52.13. 1,882,054 shares of the company’s stock were exchanged, compared to its average volume of 2,721,891. The company’s 50 day simple moving average is $57.53 and its 200-day simple moving average is $57.67. Toronto-Dominion Bank has a fifty-two week low of $51.85 and a fifty-two week high of $65.12. The firm has a market capitalization of $91.24 billion, a P/E ratio of 16.64, a PEG ratio of 1.85 and a beta of 0.82. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TD. The Manufacturers Life Insurance Company boosted its holdings in Toronto-Dominion Bank by 24.9% in the 3rd 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 position in shares of Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock valued at $380,118,000 after buying an additional 2,279,864 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Toronto-Dominion Bank by 61.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock valued at $319,151,000 after buying an additional 2,215,185 shares in the last quarter. Quadrature Capital Ltd raised its position in Toronto-Dominion Bank by 175.5% in the 3rd quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after purchasing an additional 1,571,700 shares during the period. Finally, 1832 Asset Management L.P. increased its position 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 valued at $1,418,159,000 after acquiring an additional 1,462,794 shares during the period. 52.37% of the stock is owned by institutional investors.

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.