Toronto-Dominion Bank (NYSE:TD) Sees Strong Trading Volume Following Analyst Upgrade

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) saw strong trading volume on Tuesday after Scotiabank raised their price target on the stock from C$94.00 to C$104.00. Scotiabank currently has a sector perform rating on the stock. 122,178 shares were traded during mid-day trading, a decline of 93% from the previous session’s volume of 1,651,519 shares.The stock last traded at $74.84 and had previously closed at $73.22.

Several other equities analysts have also recently issued reports on TD. National Bankshares raised shares of Toronto-Dominion Bank to a “buy” rating and set a $93.00 price objective on the stock in a research note on Friday, October 1st. National Bank Financial raised shares of Toronto-Dominion Bank from a “sector perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research note on Friday, October 1st. Barclays raised shares of Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $89.00 price objective on the stock in a research note on Tuesday, September 7th. BMO Capital Markets lowered their price target on shares of Toronto-Dominion Bank from C$96.00 to C$94.00 and set a “market perform” rating on the stock in a research note on Friday, August 27th. Finally, Zacks Investment Research raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Hold” and an average price target of $88.70.

Institutional investors have recently added to or reduced their stakes in the stock. Herold Advisors Inc. acquired a new position in shares of Toronto-Dominion Bank during the third quarter valued at $26,000. Atlas Capital Advisors LLC purchased a new position in Toronto-Dominion Bank in the 2nd quarter worth about $30,000. Optiver Holding B.V. purchased a new position in Toronto-Dominion Bank in the 1st quarter worth about $29,000. Destiny Wealth Partners LLC acquired a new stake in Toronto-Dominion Bank during the 3rd quarter worth about $30,000. Finally, Parisi Gray Wealth Management acquired a new stake in shares of Toronto-Dominion Bank during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 48.33% of the company’s stock.

The company has a fifty day moving average of $70.48 and a two-hundred day moving average of $69.47. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $137.83 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 0.95 and a beta of 1.04.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Wednesday, August 25th. The bank reported $1.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.04. The company had revenue of $10.71 billion for the quarter, compared to the consensus estimate of $9.82 billion. Toronto-Dominion Bank had a return on equity of 15.26% and a net margin of 31.71%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. As a group, sell-side analysts predict that The Toronto-Dominion Bank will post 6.16 earnings per share for the current fiscal year.

Toronto-Dominion Bank Company Profile (NYSE:TD)

The Toronto-Dominion Bank engages in providing financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.

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