Toronto-Dominion Bank (NYSE:TD) Sets New 12-Month Low – Time to Sell?

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $53.45 and last traded at $53.60, with a volume of 1444327 shares trading hands. The stock had previously closed at $56.60.

Analyst Ratings Changes

TD has been the topic of several analyst reports. Barclays cut Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, 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. Two analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Stock Performance

The firm’s 50-day moving average price is $57.74 and its two-hundred day moving average price is $57.70. 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 firm has a market capitalization of $93.87 billion, a PE ratio of 18.09, a P/E/G ratio of 1.85 and a beta of 0.82.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several institutional investors have recently made changes to their positions in TD. Cerity Partners LLC raised its holdings in Toronto-Dominion Bank by 57.1% during the third quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock valued at $1,693,000 after buying an additional 9,725 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Toronto-Dominion Bank by 1.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after purchasing an additional 144,427 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Toronto-Dominion Bank by 61.1% during the third 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 during the last quarter. Galibier Capital Management Ltd. lifted its stake in shares of Toronto-Dominion Bank by 24.6% in the third quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after buying an additional 119,978 shares during the period. Finally, Forsta AP Fonden grew its position in Toronto-Dominion Bank by 3.2% during the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock worth $29,531,000 after buying an additional 14,500 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.