Macquarie assumed coverage on shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in a research note issued on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the bank’s stock.

TD has been the subject of several other reports. Zacks Investment Research raised shares of Toronto Dominion Bank (The) from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Wednesday, July 19th. Bank of America Corporation reiterated a “buy” rating on shares of Toronto Dominion Bank (The) in a research note on Friday, September 1st. BidaskClub lowered shares of Toronto Dominion Bank (The) from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. National Bank Financial upgraded shares of Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a research note on Friday, September 1st. Finally, Scotiabank upgraded shares of Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 21st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $64.75.

Shares of Toronto Dominion Bank (NYSE TD) opened at 56.55 on Tuesday. The company has a market capitalization of $104.54 billion, a P/E ratio of 13.02 and a beta of 0.89. The stock’s 50 day moving average is $56.05 and its 200 day moving average is $51.13. Toronto Dominion Bank has a 52-week low of $44.37 and a 52-week high of $57.79.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.05 billion. Toronto Dominion Bank (The) had a net margin of 22.85% and a return on equity of 14.71%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 earnings per share. Equities analysts expect that Toronto Dominion Bank will post $4.41 EPS for the current year.

Toronto Dominion Bank (The) announced that its Board of Directors has approved a share repurchase program on Thursday, August 31st that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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Several hedge funds have recently made changes to their positions in TD. Geode Capital Management LLC grew its stake in shares of Toronto Dominion Bank (The) by 3.8% in the first quarter. Geode Capital Management LLC now owns 17,914 shares of the bank’s stock worth $897,000 after acquiring an additional 660 shares during the period. Dimensional Fund Advisors LP grew its position in Toronto Dominion Bank (The) by 33.5% during the first quarter. Dimensional Fund Advisors LP now owns 658,368 shares of the bank’s stock valued at $32,978,000 after buying an additional 165,292 shares during the period. Gotham Asset Management LLC bought a new stake in Toronto Dominion Bank (The) during the first quarter valued at approximately $265,000. FNY Partners Fund LP bought a new stake in Toronto Dominion Bank (The) during the first quarter valued at approximately $250,000. Finally, Parsons Capital Management Inc. RI grew its position in Toronto Dominion Bank (The) by 0.7% during the first quarter. Parsons Capital Management Inc. RI now owns 42,946 shares of the bank’s stock valued at $2,151,000 after buying an additional 278 shares during the period. Hedge funds and other institutional investors own 47.65% of the company’s stock.

About Toronto Dominion Bank (The)

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

The Fly

Analyst Recommendations for Toronto Dominion Bank (The) (NYSE:TD)

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