Toronto Dominion Bank (NYSE:TD) Stock Rating Upgraded by Wall Street Zen

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Monday.

Other equities research analysts have also recently issued research reports about the company. Canadian Imperial Bank of Commerce cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Jefferies Financial Group cut shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Finally, Zacks Research raised shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Price Performance

Shares of NYSE:TD opened at $97.67 on Monday. The firm has a market cap of $163.23 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.12 and a beta of 0.66. Toronto Dominion Bank has a 1 year low of $54.87 and a 1 year high of $99.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $95.27 and a 200 day simple moving average of $86.05.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.43 billion. During the same quarter in the previous year, the company posted $2.02 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, sell-side analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in Toronto Dominion Bank during the 3rd quarter worth $27,000. Mather Group LLC. bought a new position in shares of Toronto Dominion Bank in the third quarter worth about $30,000. Harvest Fund Management Co. Ltd lifted its position in shares of Toronto Dominion Bank by 112.8% during the 4th 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 last quarter. Elevation Point Wealth Partners LLC bought a new stake in Toronto Dominion Bank during the 2nd quarter valued at approximately $32,000. Finally, Sachetta LLC bought a new stake in Toronto Dominion Bank during the 3rd quarter valued at approximately $33,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

About Toronto Dominion Bank

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.