Toronto-Dominion Bank (TD) Rating Reiterated by Canaccord Genuity

Toronto-Dominion Bank (NYSE:TD) (TSE:TD)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a note issued to investors on Friday.

Several other research analysts have also recently issued reports on the stock. Barclays restated a “hold” rating on shares of Toronto-Dominion Bank in a report on Thursday. Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. Finally, TheStreet upgraded shares of Toronto-Dominion Bank from a “c+” rating to a “b” rating in a report on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.50.

Shares of Toronto-Dominion Bank stock opened at $55.30 on Friday. Toronto-Dominion Bank has a 12-month low of $52.83 and a 12-month high of $62.00. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $101.33 billion, a PE ratio of 10.99, a P/E/G ratio of 1.00 and a beta of 1.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, November 29th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.40. Toronto-Dominion Bank had a net margin of 21.27% and a return on equity of 16.99%. The business had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $9.31 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, research analysts expect that Toronto-Dominion Bank will post 5.3 earnings per share for the current year.

A number of large investors have recently modified their holdings of TD. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Toronto-Dominion Bank by 60.0% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 10,773,218 shares of the bank’s stock worth $819,734,000 after purchasing an additional 4,039,200 shares during the period. Toronto Dominion Bank boosted its stake in Toronto-Dominion Bank by 29.9% during the 2nd quarter. Toronto Dominion Bank now owns 14,732,953 shares of the bank’s stock worth $852,369,000 after purchasing an additional 3,391,735 shares during the period. Fiera Capital Corp boosted its stake in Toronto-Dominion Bank by 62.7% during the 2nd quarter. Fiera Capital Corp now owns 7,874,345 shares of the bank’s stock worth $455,807,000 after purchasing an additional 3,035,594 shares during the period. FIL Ltd boosted its stake in Toronto-Dominion Bank by 8.6% during the 3rd quarter. FIL Ltd now owns 36,739,701 shares of the bank’s stock worth $2,232,570,000 after purchasing an additional 2,900,086 shares during the period. Finally, Capital World Investors boosted its stake in Toronto-Dominion Bank by 22.7% during the 3rd quarter. Capital World Investors now owns 13,395,694 shares of the bank’s stock worth $814,019,000 after purchasing an additional 2,474,000 shares during the period. Hedge funds and other institutional investors own 47.43% of the company’s stock.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

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Analyst Recommendations for Toronto-Dominion Bank (NYSE:TD)

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