Toronto Dominion Bank (NYSE:TD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Toronto-Dominion Bank from “sell” to “hold.” Other analyst opinions are mixed, but MarketBeat lists a consensus rating of “Moderate Buy” with a $156 price target.
• TD shares opened at $117.13, up 0.2%, with a market capitalization of approximately $192.66 billion and a 52-week range of $72.73 to $125.46.
• The bank beat quarterly earnings expectations, reporting $1.74 EPS versus the $1.63 consensus and $11.80 billion in revenue, although revenue declined 31.1% year over year.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

TD has been the topic of several other reports. Weiss Ratings raised shares of Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research note 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. Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Scotiabank upgraded Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods started coverage on Toronto Dominion Bank in a research report on Friday. They set a "market perform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Toronto Dominion Bank currently has an average rating of "Moderate Buy" and a consensus price target of $156.00.

Toronto Dominion Bank Trading Up 0.2%

NYSE:TD opened at $117.13 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 1-year low of $72.73 and a 1-year high of $125.46. The firm has a market capitalization of $192.66 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.30 and a beta of 0.72. The stock has a fifty day simple moving average of $120.49 and a 200 day simple moving average of $108.39.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the company earned $1.97 EPS. The business's revenue for the quarter was down 31.1% compared to the same quarter last year. Sell-side analysts forecast that Toronto Dominion Bank will post 6.9 earnings per share for the current year.

Institutional Investors Weigh In On Toronto Dominion Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bayban purchased a new position in shares of Toronto Dominion Bank during the 4th quarter valued at $28,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Toronto Dominion Bank by 112.8% during the fourth 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. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank during the fourth quarter worth $34,000. Brown Lisle Cummings Inc. boosted its position in Toronto Dominion Bank by 88.4% during the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank's stock valued at $38,000 after purchasing an additional 191 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Toronto Dominion Bank by 660.9% during the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank's stock valued at $38,000 after purchasing an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

About Toronto Dominion Bank

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.

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