Toronto-Dominion Bank (NYSE:TD) Upgraded at Zacks Investment Research

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm presently has a $79.00 price target on the bank’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.98% from the company’s current price.

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. “

A number of other equities research analysts have also recently issued reports on TD. Desjardins increased their target price on shares of Toronto-Dominion Bank from C$110.00 to C$113.00 in a research report on Monday, March 7th. CIBC cut shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a research report on Monday, April 11th. StockNews.com began coverage on shares of Toronto-Dominion Bank in a research report on Thursday, March 31st. They set a “hold” rating for the company. Scotiabank dropped their target price on shares of Toronto-Dominion Bank from C$116.00 to C$105.00 in a research report on Wednesday, April 13th. Finally, Stifel Nicolaus dropped their target price on shares of Toronto-Dominion Bank from C$105.00 to C$104.00 in a research report on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank presently has an average rating of “Hold” and an average target price of $100.11.

Shares of TD stock opened at $73.16 on Friday. Toronto-Dominion Bank has a 52-week low of $62.81 and a 52-week high of $86.01. The stock has a market cap of $132.08 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.44 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a fifty day moving average of $78.07 and a 200-day moving average of $77.02.

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last announced its quarterly earnings data on Thursday, March 3rd. The bank reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.03. Toronto-Dominion Bank had a net margin of 30.57% and a return on equity of 16.18%. The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $10.28 billion. During the same quarter in the prior year, the company posted $1.42 EPS. The business’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts predict that Toronto-Dominion Bank will post 6.39 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in TD. Capital Research Global Investors lifted its stake in Toronto-Dominion Bank by 6.5% in the fourth quarter. Capital Research Global Investors now owns 50,022,490 shares of the bank’s stock valued at $3,835,082,000 after buying an additional 3,059,059 shares in the last quarter. Norges Bank acquired a new position in Toronto-Dominion Bank during the fourth quarter worth $1,698,122,000. The Manufacturers Life Insurance Company increased its holdings in Toronto-Dominion Bank by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 16,835,940 shares of the bank’s stock worth $1,411,693,000 after buying an additional 537,054 shares during the last quarter. Schroder Investment Management Group increased its holdings in Toronto-Dominion Bank by 413.8% during the fourth quarter. Schroder Investment Management Group now owns 13,351,504 shares of the bank’s stock worth $1,294,830,000 after buying an additional 10,753,156 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Toronto-Dominion Bank by 4.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,427,653 shares of the bank’s stock worth $799,593,000 after buying an additional 415,805 shares during the last quarter. 48.46% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Company Profile (Get Rating)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.

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