Toronto Dominion Bank (NYSE:TD) Raised to Outperform at National Bank Financial

Toronto Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report issued on Thursday.

Other research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, October 8th. Royal Bank Of Canada raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 3rd. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. Finally, Jefferies Financial Group lowered Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $91.18 on Thursday. The company has a 50-day moving average of $83.17 and a two-hundred day moving average of $77.53. The stock has a market cap of $154.04 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $92.24.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $10.10 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. The company’s revenue for the quarter 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.

Institutional Trading of Toronto Dominion Bank

Several large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board grew its position in Toronto Dominion Bank by 18.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock worth $917,832,000 after acquiring an additional 1,946,172 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Toronto Dominion Bank by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock worth $1,010,852,000 after purchasing an additional 115,203 shares during the last quarter. Triasima Portfolio Management inc. acquired a new stake in shares of Toronto Dominion Bank in the second quarter valued at $8,492,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Toronto Dominion Bank by 41.9% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank’s stock valued at $264,134,000 after buying an additional 1,302,281 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Toronto Dominion Bank in the second quarter valued at about $267,475,000. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.