Zacks Research Upgrades Toronto Dominion Bank (NYSE:TD) to “Strong-Buy”

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by investment 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.

Other equities research analysts have also recently issued research reports about the stock. Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. Jefferies Financial Group cut Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. National Bank Financial raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

Shares of TD stock traded up $0.56 during trading hours on Wednesday, reaching $96.37. The company had a trading volume of 179,290 shares, compared to its average volume of 2,477,504. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The business has a fifty day moving average price of $94.50 and a 200-day moving average price of $84.56. Toronto Dominion Bank has a one year low of $54.87 and a one year high of $99.04. The firm has a market cap of $161.06 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.28 and a beta of 0.67.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 earnings per share (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 during the quarter, compared to analysts’ expectations of $10.10 billion. During the same period in the previous year, the company earned $1.72 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in Toronto Dominion Bank during the 3rd quarter worth approximately $27,000. Mather Group LLC. acquired a new position in Toronto Dominion Bank during the third quarter valued at $30,000. Harvest Fund Management Co. Ltd lifted its stake in Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after acquiring an additional 168 shares in the last quarter. Quaker Wealth Management LLC boosted its position in Toronto Dominion Bank by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 428 shares of the bank’s stock worth $31,000 after acquiring an additional 856 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Toronto Dominion Bank in the 2nd quarter valued at about $32,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.