Toronto Dominion Bank (NYSE:TD) Raised 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 stock analysts at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a research note issued on Friday, Marketbeat Ratings reports.

TD has been the topic of several other research reports. Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen downgraded shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Four 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's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Stock Performance

Shares of TD stock traded up $1.50 during mid-day trading on Friday, reaching $81.13. 2,312,352 shares of the company's stock traded hands, compared to its average volume of 2,101,256. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $82.08. The firm has a 50 day moving average price of $75.54 and a two-hundred day moving average price of $69.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $137.99 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, beating 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 company had revenue of $10.12 billion for the quarter, compared to analysts' expectations of $13.73 billion. During the same quarter in the previous year, the company earned $2.05 EPS. Toronto Dominion Bank's revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Hedge Funds Weigh In On Toronto Dominion Bank

Hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Toronto Dominion Bank by 133.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,126 shares of the bank's stock valued at $859,000 after purchasing an additional 9,231 shares in the last quarter. NBC Securities Inc. boosted its stake in Toronto Dominion Bank by 96,550.0% in the first quarter. NBC Securities Inc. now owns 1,933 shares of the bank's stock valued at $115,000 after acquiring an additional 1,931 shares in the last quarter. Stablepoint Partners LLC boosted its stake in Toronto Dominion Bank by 5.4% in the first quarter. Stablepoint Partners LLC now owns 76,831 shares of the bank's stock valued at $4,605,000 after acquiring an additional 3,961 shares in the last quarter. Pines Wealth Management LLC boosted its stake in Toronto Dominion Bank by 10.6% in the first quarter. Pines Wealth Management LLC now owns 5,600 shares of the bank's stock valued at $313,000 after acquiring an additional 537 shares in the last quarter. Finally, Godsey & Gibb Inc. boosted its stake in Toronto Dominion Bank by 3.3% in the first quarter. Godsey & Gibb Inc. now owns 345,305 shares of the bank's stock valued at $20,698,000 after acquiring an additional 10,965 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

About Toronto Dominion Bank

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.