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

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on TD. Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Jefferies Financial Group lowered shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Price Performance

Shares of NYSE TD opened at $95.82 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s 50 day simple moving average is $94.50 and its 200-day simple moving average is $84.56. Toronto Dominion Bank has a 12 month low of $54.87 and a 12 month high of $99.04. The stock has a market capitalization of $160.14 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.28 and a beta of 0.67.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $10.10 billion. During the same quarter last year, the business earned $1.72 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current year.

Institutional Investors Weigh In On Toronto Dominion Bank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd raised its stake in Toronto Dominion Bank by 112.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after purchasing an additional 168 shares during the period. True Wealth Design LLC purchased a new stake in shares of Toronto Dominion Bank during the 3rd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank during the 4th quarter valued at approximately $34,000. Mather Group LLC. acquired a new position in Toronto Dominion Bank in the third quarter valued at approximately $30,000. Finally, Sachetta LLC acquired a new stake in Toronto Dominion Bank during the third quarter worth $33,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.