Toronto-Dominion Bank (NYSE:TD) Lifted to “Sector Outperform” at Scotiabank

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report issued on Wednesday, Marketbeat Ratings reports.

A number of other research analysts have also recently issued reports on the stock. Barclays assumed coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Jefferies Financial Group initiated coverage on shares of Toronto-Dominion Bank in a report on Thursday, February 22nd. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.33.

Toronto-Dominion Bank Stock Up 0.7 %

Shares of NYSE TD traded up $0.41 during midday trading on Wednesday, reaching $56.54. 1,676,639 shares of the company’s stock traded hands, compared to its average volume of 2,926,206. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09. The stock’s 50 day simple moving average is $59.48 and its 200-day simple moving average is $60.09. Toronto-Dominion Bank has a one year low of $54.69 and a one year high of $66.15. The company has a market cap of $99.69 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.74 and a beta of 0.86.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, February 29th. The bank reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. The company had revenue of $10.07 billion during the quarter, compared to analysts’ expectations of $9.35 billion. On average, analysts predict that Toronto-Dominion Bank will post 5.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Toronto-Dominion Bank by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 73,810,627 shares of the bank’s stock valued at $4,769,643,000 after buying an additional 1,426,362 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Toronto-Dominion Bank by 28.9% during the fourth quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock worth $3,017,384,000 after purchasing an additional 10,415,591 shares in the last quarter. Canoe Financial LP increased its stake in shares of Toronto-Dominion Bank by 2,035.4% during the fourth quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after purchasing an additional 40,803,711 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of Toronto-Dominion Bank by 0.3% during the fourth quarter. Bank of Nova Scotia now owns 33,335,463 shares of the bank’s stock worth $2,154,141,000 after purchasing an additional 105,772 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Toronto-Dominion Bank by 0.6% during the 4th quarter. 1832 Asset Management L.P. now owns 24,569,253 shares of the bank’s stock valued at $1,587,665,000 after acquiring an additional 149,407 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Toronto-Dominion Bank

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.