The Toronto-Dominion Bank (NYSE:TD) Sees Significant Drop in Short Interest

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 16,860,000 shares, a decrease of 22.1% from the October 31st total of 21,640,000 shares. Based on an average daily trading volume, of 2,660,000 shares, the short-interest ratio is presently 6.3 days. Currently, 1.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several hedge funds have recently modified their holdings of TD. Dunhill Financial LLC grew its position in shares of Toronto-Dominion Bank by 164.9% in the third 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. Triad Wealth Partners LLC acquired a new position in shares of Toronto-Dominion Bank during the 2nd quarter valued at about $31,000. Blue Trust Inc. lifted its holdings in shares of Toronto-Dominion Bank by 50.7% during the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after acquiring an additional 212 shares during the period. Kimelman & Baird LLC acquired a new stake in shares of Toronto-Dominion Bank in the second quarter worth approximately $49,000. Finally, Morse Asset Management Inc acquired a new position in Toronto-Dominion Bank during the third quarter worth approximately $63,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Toronto-Dominion Bank Price Performance

Shares of TD traded up $0.14 during mid-day trading on Friday, reaching $56.53. 557,385 shares of the company’s stock were exchanged, compared to its average volume of 1,732,705. Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. 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 company has a 50-day simple moving average of $58.17 and a two-hundred day simple moving average of $57.72. The company has a market cap of $98.94 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 1.95 and a beta of 0.82.

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.