Toronto Dominion Bank (NYSE:TD) Rating Increased to Outperform at Royal Bank Of Canada

Key Points

• Toronto Dominion Bank (NYSE:TD) has been upgraded from a "sector perform" rating to an "outperform" rating by analysts at Royal Bank Of Canada.
• Despite the upgrade, the bank has received mixed ratings from other analysts, with one positioning the stock as a "sell," while the consensus rating remains a "hold" with an average target price of $93.00.
• In its last earnings report, Toronto Dominion Bank surpassed earnings expectations with $1.91 EPS, although it reported revenue of $10.12 billion, which was below analysts' expectations.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD was upgraded by research analysts at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

A number of other equities analysts have also issued reports on TD. Wall Street Zen lowered shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Desjardins raised shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Performance

Shares of Toronto Dominion Bank stock traded down $0.21 on Friday, reaching $80.70. The stock had a trading volume of 378,988 shares, compared to its average volume of 2,089,805. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $82.08. The business's 50-day moving average price is $75.96 and its two-hundred day moving average price is $69.99. The stock has a market cap of $137.26 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The business had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Toronto Dominion Bank's revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Institutional Investors Weigh In On Toronto Dominion Bank

Several large investors have recently made changes to their positions in the company. Venture Visionary Partners LLC bought a new stake in shares of Toronto Dominion Bank in the 3rd quarter worth about $212,000. Cardinal Capital Management Inc. grew its holdings in shares of Toronto Dominion Bank by 1.2% in the 3rd quarter. Cardinal Capital Management Inc. now owns 17,520 shares of the bank's stock worth $1,402,000 after purchasing an additional 200 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Toronto Dominion Bank in the 2nd quarter worth about $41,000. Valeo Financial Advisors LLC bought a new stake in shares of Toronto Dominion Bank in the 2nd quarter worth about $233,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Toronto Dominion Bank by 20.9% in the 2nd quarter. Osaic Holdings Inc. now owns 42,190 shares of the bank's stock worth $3,095,000 after purchasing an additional 7,282 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.