Toronto-Dominion Bank (NYSE:TD) Upgraded at StockNews.com

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other research firms have also recently weighed in on TD. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Royal Bank of Canada dropped their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Finally, Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Price Performance

Shares of TD stock traded up $0.15 on Wednesday, reaching $57.47. The company’s stock had a trading volume of 3,542,127 shares, compared to its average volume of 2,982,914. The company has a market capitalization of $100.59 billion, a P/E ratio of 16.56, a PEG ratio of 1.82 and a beta of 0.84. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The stock’s 50 day simple moving average is $54.75 and its 200-day simple moving average is $57.38. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Toronto-Dominion Bank

Large investors have recently bought and sold shares of the stock. Cerity Partners LLC boosted its holdings in shares of Toronto-Dominion Bank by 57.1% during the third quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock worth $1,693,000 after purchasing an additional 9,725 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Toronto-Dominion Bank by 1.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after buying an additional 144,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Toronto-Dominion Bank by 61.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after buying an additional 2,279,864 shares during the last quarter. Galibier Capital Management Ltd. increased its stake in shares of Toronto-Dominion Bank by 24.6% during the third quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after buying an additional 119,978 shares during the period. Finally, Forsta AP Fonden raised its holdings in shares of Toronto-Dominion Bank by 3.2% during the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock valued at $29,531,000 after acquiring an additional 14,500 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other 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.