Toronto Dominion Bank (NYSE:TD) Upgraded at Natl Bk Canada

Natl Bk Canada upgraded shares of Toronto Dominion Bank (NYSE:TD) (TSE:TD) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

TD has been the topic of a number of other reports. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Royal Bank Of Canada upgraded shares of 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 report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. Finally, Raymond James Financial upgraded Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

TD stock opened at $92.81 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The firm has a market cap of $156.80 billion, a PE ratio of 11.01, a P/E/G ratio of 1.29 and a beta of 0.69. The business has a 50 day moving average of $83.72 and a 200-day moving average of $77.80. Toronto Dominion Bank has a 12-month low of $51.25 and a 12-month high of $93.30.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $10.10 billion. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.Toronto Dominion Bank’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $1.72 earnings per share. As a group, sell-side analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Friday, January 9th will be paid a $1.08 dividend. The ex-dividend date is Friday, January 9th. This represents a $4.32 dividend on an annualized basis and a yield of 4.7%. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 35.82%.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of large investors have recently made changes to their positions in TD. True Wealth Design LLC bought a new position in shares of Toronto Dominion Bank in the third quarter valued at approximately $27,000. Mather Group LLC. purchased a new stake in Toronto Dominion Bank in the 3rd quarter worth approximately $30,000. Quaker Wealth Management LLC boosted its holdings in Toronto Dominion Bank by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 428 shares of the bank’s stock valued at $31,000 after purchasing an additional 856 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Toronto Dominion Bank during the 2nd quarter valued at $32,000. Finally, Sachetta LLC bought a new position in shares of Toronto Dominion Bank in the third quarter worth $33,000. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Company Profile

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.