Toronto Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $64.00 target price on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.29% from the company’s previous close.
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. “
Other research analysts have also recently issued reports about the stock. Bank of America lifted their price objective on shares of Toronto Dominion Bank from $71.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Canaccord Genuity reissued a “buy” rating and issued a $80.00 price objective on shares of Toronto Dominion Bank in a research note on Thursday, November 30th. Scotiabank reissued a “buy” rating and issued a $83.00 price objective on shares of Toronto Dominion Bank in a research note on Wednesday, November 22nd. CIBC raised shares of Toronto Dominion Bank from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 1st. Finally, Macquarie started coverage on shares of Toronto Dominion Bank in a research note on Tuesday, October 24th. They issued an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $76.80.
Shares of Toronto Dominion Bank (TD) traded up $0.16 during trading hours on Thursday, reaching $58.03. 228,411 shares of the company were exchanged, compared to its average volume of 1,272,173. The company has a market capitalization of $104,523.32, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.93. Toronto Dominion Bank has a fifty-two week low of $45.18 and a fifty-two week high of $61.06.
Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, November 30th. The bank reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.02). The firm had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $7.13 billion. Toronto Dominion Bank had a net margin of 23.09% and a return on equity of 15.17%. sell-side analysts predict that Toronto Dominion Bank will post 4.69 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of TD. Icon Wealth Partners LLC bought a new stake in shares of Toronto Dominion Bank during the fourth quarter worth $102,000. Advisory Services Network LLC grew its stake in shares of Toronto Dominion Bank by 26.1% during the second quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock worth $119,000 after buying an additional 487 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Toronto Dominion Bank by 3.7% during the second quarter. Teachers Advisors LLC now owns 2,556 shares of the bank’s stock worth $129,000 after buying an additional 92 shares during the last quarter. Calton & Associates Inc. bought a new stake in shares of Toronto Dominion Bank during the fourth quarter worth $141,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Toronto Dominion Bank during the fourth quarter worth $176,000. 48.93% of the stock is currently owned by hedge funds and other institutional investors.
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About Toronto Dominion Bank
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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