The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) had its target price raised by equities research analysts at Scotiabank from $68.00 to $77.00 in a research note issued on Monday, The Fly reports. Scotiabank's price target points to a potential upside of 44.33% from the company's current price.
TD has been the topic of a number of other reports. CIBC raised The Toronto-Dominion Bank from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $78.00 to $80.00 in a report on Thursday. Zacks Investment Research raised The Toronto-Dominion Bank from a "hold" rating to a "buy" rating and set a $59.00 price objective on the stock in a report on Saturday. Barclays increased their price objective on The Toronto-Dominion Bank from $64.00 to $67.00 and gave the company an "equal weight" rating in a report on Thursday, November 12th. Canaccord Genuity restated a "buy" rating and issued a $79.00 target price on shares of The Toronto-Dominion Bank in a research note on Friday, October 2nd. Finally, Credit Suisse Group began coverage on The Toronto-Dominion Bank in a research note on Friday, October 9th. They issued an "underperform" rating and a $59.00 target price on the stock. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The Toronto-Dominion Bank presently has an average rating of "Hold" and an average price target of $67.82.
NYSE:TD traded up $0.73 during mid-day trading on Monday, hitting $53.35. 155,815 shares of the company's stock traded hands, compared to its average volume of 1,969,581. The company has a fifty day moving average of $46.78 and a 200 day moving average of $45.66. The Toronto-Dominion Bank has a twelve month low of $33.74 and a twelve month high of $58.40. The company has a market capitalization of $95.46 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 0.97.
The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 27th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.75 by $0.50. The company had revenue of $10.67 billion for the quarter, compared to analyst estimates of $9.99 billion. The Toronto-Dominion Bank had a return on equity of 11.84% and a net margin of 17.44%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.79 EPS. On average, research analysts expect that The Toronto-Dominion Bank will post 3.74 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of TD. Canada Pension Plan Investment Board boosted its position in The Toronto-Dominion Bank by 209.7% during the second quarter. Canada Pension Plan Investment Board now owns 7,000,062 shares of the bank's stock worth $311,405,000 after purchasing an additional 4,740,000 shares in the last quarter. Toronto Dominion Bank boosted its position in The Toronto-Dominion Bank by 46.0% during the second quarter. Toronto Dominion Bank now owns 14,682,266 shares of the bank's stock worth $655,258,000 after purchasing an additional 4,627,469 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in The Toronto-Dominion Bank by 81.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,397,881 shares of the bank's stock worth $330,184,000 after purchasing an additional 3,322,707 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of The Toronto-Dominion Bank by 59.4% in the third quarter. Public Sector Pension Investment Board now owns 5,751,185 shares of the bank's stock valued at $265,439,000 after acquiring an additional 2,143,744 shares in the last quarter. Finally, FMR LLC lifted its position in shares of The Toronto-Dominion Bank by 17.8% in the second quarter. FMR LLC now owns 13,556,261 shares of the bank's stock valued at $605,019,000 after acquiring an additional 2,047,356 shares in the last quarter. Institutional investors own 47.67% of the company's stock.
About The Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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