Zacks Investment Research upgraded shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) from a sell rating to a hold rating in a research note published on Saturday.

According to Zacks, “Toronto Dominion Bank is a Canadian chartered bank and offers a wide range of business and consumer services. These services include checking and savings accounts, credit cards, mortgage and student loans,trusts, wills, estate planning,investment management services and financial and advisory services. “

Several other analysts have also commented on the company. Macquarie initiated coverage on Toronto Dominion Bank (The) in a research note on Tuesday, October 24th. They issued an outperform rating on the stock. National Bank Financial raised Toronto Dominion Bank (The) from a sector perform rating to an outperform rating in a research note on Friday, September 1st. BidaskClub raised Toronto Dominion Bank (The) from a sell rating to a hold rating in a research note on Saturday, August 26th. Bank of America Corporation reaffirmed a buy rating on shares of Toronto Dominion Bank (The) in a research note on Friday, September 1st. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $72.00 price target on shares of Toronto Dominion Bank (The) in a research note on Thursday, August 31st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Toronto Dominion Bank (The) currently has a consensus rating of Buy and a consensus target price of $66.33.

Shares of Toronto Dominion Bank (TD) opened at $57.65 on Friday. The stock has a market capitalization of $106,610.00, a P/E ratio of 14.16, a PEG ratio of 1.48 and a beta of 0.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.14. Toronto Dominion Bank has a 1 year low of $45.18 and a 1 year high of $57.80.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 31st. The bank reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.05 billion. Toronto Dominion Bank (The) had a return on equity of 14.71% and a net margin of 22.85%. Toronto Dominion Bank (The)’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 earnings per share. analysts predict that Toronto Dominion Bank will post 4.44 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were paid a $0.475 dividend. The ex-dividend date was Thursday, October 5th. This represents a $1.90 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. Toronto Dominion Bank (The)’s payout ratio is currently 44.93%.

Toronto Dominion Bank (The) declared that its board has approved a share repurchase program on Thursday, August 31st that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

A number of institutional investors have recently bought and sold shares of the business. Coastline Trust Co boosted its stake in Toronto Dominion Bank (The) by 4.9% in the third quarter. Coastline Trust Co now owns 95,955 shares of the bank’s stock worth $5,399,000 after purchasing an additional 4,445 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in Toronto Dominion Bank (The) in the third quarter worth $281,000. Fieldpoint Private Securities LLC acquired a new position in Toronto Dominion Bank (The) in the third quarter worth $1,376,000. Wealthcare Advisory Partners LLC acquired a new position in Toronto Dominion Bank (The) in the third quarter worth $654,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Toronto Dominion Bank (The) in the third quarter worth $1,358,000. 47.88% of the stock is currently owned by institutional investors.

About Toronto Dominion Bank (The)

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

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Analyst Recommendations for Toronto Dominion Bank (The) (NYSE:TD)

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