Toronto Dominion Bank (NYSE:TD) Stock Rating Upgraded by Scotiabank

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a note issued to investors on Monday.

Other research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Zacks Research downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Trading Up 0.1%

NYSE:TD opened at $107.39 on Monday. Toronto Dominion Bank has a one year low of $62.79 and a one year high of $108.35. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $177.85 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.22 and a beta of 0.71. The firm has a 50-day simple moving average of $98.22 and a 200-day simple moving average of $92.34.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, beating the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The business had revenue of $11.01 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same quarter in the previous year, the business posted $2.02 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities analysts anticipate that Toronto Dominion Bank will post 6.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Toronto Dominion Bank

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Toronto Dominion Bank by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock valued at $7,280,911,000 after purchasing an additional 765,107 shares during the period. TD Asset Management Inc lifted its stake in shares of Toronto Dominion Bank by 0.7% in the 3rd quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock valued at $3,008,096,000 after purchasing an additional 246,999 shares during the period. Norges Bank acquired a new position in Toronto Dominion Bank during the fourth quarter worth $2,125,963,000. Canerector Inc. raised its position in Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after acquiring an additional 22,056,000 shares during the period. Finally, Bank of Nova Scotia raised its position in Toronto Dominion Bank by 6.8% during the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock worth $1,836,518,000 after acquiring an additional 1,234,510 shares during the period. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.