Toronto Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $64.00 price objective on the bank’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.50% from the stock’s previous close.
According to Zacks, “Toronto Dominion Bank is a Canadian chartered bank and offers a wide range of business and consumer services. These services include checking and savings accounts, credit cards, mortgage and student loans,trusts, wills, estate planning,investment management services and financial and advisory services. “
Several other research analysts have also weighed in on the company. Macquarie started coverage on Toronto Dominion Bank in a report on Tuesday, October 24th. They set an “outperform” rating on the stock. Scotiabank reiterated a “buy” rating and set a $83.00 target price on shares of Toronto Dominion Bank in a report on Wednesday, November 22nd. CIBC upgraded Toronto Dominion Bank from a “neutral” rating to an “outperform” rating in a report on Thursday, February 1st. Bank of America lifted their target price on Toronto Dominion Bank from $71.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $80.00 target price on shares of Toronto Dominion Bank in a report on Thursday, November 30th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $76.80.
Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, November 30th. The bank reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.02). The business had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $7.13 billion. Toronto Dominion Bank had a return on equity of 15.17% and a net margin of 23.09%. sell-side analysts expect that Toronto Dominion Bank will post 4.69 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Icon Wealth Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at about $102,000. Advisory Services Network LLC raised its stake in shares of Toronto Dominion Bank by 26.1% in the 2nd quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock valued at $119,000 after purchasing an additional 487 shares during the period. Calton & Associates Inc. acquired a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at about $141,000. Teachers Advisors LLC raised its stake in shares of Toronto Dominion Bank by 3.7% in the 2nd quarter. Teachers Advisors LLC now owns 2,556 shares of the bank’s stock valued at $129,000 after purchasing an additional 92 shares during the period. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at about $176,000. 48.93% of the stock is currently owned by hedge funds and other institutional investors.
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About Toronto Dominion Bank
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.
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