Toronto-Dominion Bank (NYSE:TD) Stock Rating Upgraded by Bank of America

Toronto-Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports.

A number of other research analysts also recently commented on TD. Jefferies Financial Group raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada cut their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Finally, BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.50.

Read Our Latest Research Report on TD

Toronto-Dominion Bank Stock Up 3.1 %

Shares of TD stock traded up $1.71 during mid-day trading on Friday, hitting $57.03. The stock had a trading volume of 1,403,970 shares, compared to its average volume of 3,060,513. The firm has a market capitalization of $99.82 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The firm’s 50-day moving average is $54.50 and its two-hundred day moving average is $57.31.

Institutional Investors Weigh In On Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TD. Dunhill Financial LLC grew its stake in shares of Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after acquiring an additional 249 shares during the last quarter. Versant Capital Management Inc boosted its stake in Toronto-Dominion Bank by 40.0% in the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Kimelman & Baird LLC acquired a new position in Toronto-Dominion Bank during the 2nd quarter valued at approximately $49,000. Morse Asset Management Inc acquired a new position in Toronto-Dominion Bank during the 3rd quarter valued at approximately $63,000. Finally, Eastern Bank purchased a new position in shares of Toronto-Dominion Bank in the third quarter worth $66,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

About Toronto-Dominion Bank

(Get Free Report)

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.

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

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