Royal Bank of Canada Lowers Toronto-Dominion Bank (NYSE:TD) Price Target to $77.00

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) had its price target decreased 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 brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price target points to a potential upside of 47.71% from the stock’s current price.

A number of other analysts have also recently weighed in on TD. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday. Finally, Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Two investment 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. Based on data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Stock Down 1.3 %

Shares of NYSE:TD traded down $0.67 on Friday, reaching $52.13. The company had a trading volume of 1,882,054 shares, compared to its average volume of 2,721,891. Toronto-Dominion Bank has a twelve month low of $51.85 and a twelve month high of $65.12. The stock has a 50-day moving average price of $57.53 and a 200 day moving average price of $57.67. The stock has a market capitalization of $91.24 billion, a P/E ratio of 16.64, a P/E/G 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.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dunhill Financial LLC raised 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 buying an additional 249 shares in the last quarter. Triad Wealth Partners LLC bought a new position in Toronto-Dominion Bank in the 2nd quarter valued at $31,000. Blue Trust Inc. boosted its position in 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 buying an additional 212 shares during the last quarter. Kimelman & Baird LLC bought a new position in shares of Toronto-Dominion Bank in the 2nd quarter worth $49,000. Finally, Morse Asset Management Inc bought a new position in shares of Toronto-Dominion Bank in the 3rd quarter worth $63,000. 52.37% of the stock is currently 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.