Keefe, Bruyette & Woods Begins Coverage on Toronto Dominion Bank (NYSE:TD)

Research analysts at Keefe, Bruyette & Woods initiated coverage on shares of Toronto Dominion Bank (NYSE:TD) (TSE:TD) in a report released on Friday. The firm set a “market perform” rating on the bank’s stock.

Other analysts also recently issued research reports about the stock. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Stock Performance

Shares of Toronto Dominion Bank stock traded up $1.78 during trading hours on Friday, hitting $118.63. 81,938 shares of the company were exchanged, compared to its average volume of 2,453,737. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average of $120.49 and a 200-day moving average of $108.33. Toronto Dominion Bank has a 1 year low of $72.73 and a 1 year high of $125.46. The stock has a market capitalization of $195.12 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 1.31 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. Toronto Dominion Bank’s revenue was down 31.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.97 EPS. As a group, analysts expect that Toronto Dominion Bank will post 6.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Toronto Dominion Bank

Large investors have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. boosted its position in shares of Toronto Dominion Bank by 3.0% in the first quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank’s stock worth $112,185,000 after buying an additional 34,921 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of Toronto Dominion Bank during the 4th quarter valued at about $299,850,000. State of Wyoming raised its holdings in shares of Toronto Dominion Bank by 1,018.7% during the 1st quarter. State of Wyoming now owns 22,765 shares of the bank’s stock valued at $2,119,000 after buying an additional 20,730 shares during the period. Sivia Capital Partners LLC acquired a new position in Toronto Dominion Bank during the 2nd quarter worth approximately $259,000. Finally, Norges Bank acquired a new position in Toronto Dominion Bank during the 4th quarter worth approximately $2,125,963,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.