Wall Street Zen Upgrades Toronto Dominion Bank (NYSE:TD) to Hold

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Other equities analysts also recently issued reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Royal Bank Of Canada raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 3rd. National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Finally, Natl Bk Canada raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and an average price target of $93.00.

Toronto Dominion Bank Stock Performance

TD opened at $94.61 on Friday. The business has a 50 day moving average of $85.19 and a 200-day moving average of $78.69. Toronto Dominion Bank has a 12-month low of $52.63 and a 12-month high of $94.83. The stock has a market cap of $159.84 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.32 and a beta of 0.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $10.10 billion. During the same period in the previous year, the company earned $1.72 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of hedge funds have recently added to or reduced their stakes in the stock. Canerector Inc. raised its stake in shares of Toronto Dominion Bank by 11,028.0% during the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after purchasing an additional 22,056,000 shares during the period. Norges Bank purchased a new stake in shares of Toronto Dominion Bank in the second quarter worth about $1,543,639,000. Goldman Sachs Group Inc. grew its position in shares of Toronto Dominion Bank by 93.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank’s stock valued at $732,252,000 after purchasing an additional 5,917,078 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its position in Toronto Dominion Bank by 48.9% during the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank’s stock worth $886,174,000 after buying an additional 4,853,498 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Toronto Dominion Bank in the second quarter worth approximately $267,475,000. Institutional investors and hedge funds 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.