National Bank Financial upgrades Toronto-Dominion Bank (NYSE:TD) to Sector Perform

Toronto-Dominion Bank (NYSE:TD – Get a Free Report) (TSE:TD) was upgraded by National Bank Financial from an “underperform” rating to a “sector perform” rating in a report on Thursday, MarketBeat.com reports. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q4 2024 earnings at $1.36 EPS, FY2024 earnings at $5.78 EPS and FY2025 earnings at $5.71 EPS.

A number of other research firms have also commented on TD. BMO Capital Markets cut their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research note on Friday, May 24th . StockNews.com upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. Finally, UBS Group began coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating on the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus price target of $88.00 based on data from MarketBeat.com.

Check out the latest stock analysis on Toronto-Dominion Bank

Toronto-Dominion Bank stock rose 1.5%

TD opened at $59.34 on Thursday. The stock’s fifty-day moving average is $56.81, and its 200-day moving average is $57.68. Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.12. The company has a market cap of $103.69 billion, a PE ratio of 13.49, a P/E/G ratio of 1.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01, and a current ratio of 1.01.

Toronto-Dominion Bank (NYSE:TD – Get Your Free Report ) (TSE:TD) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The company had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. In the same quarter last year, the company posted EPS of $1.48. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Toronto-Dominion Bank will post 5.87 EPS for the current fiscal year.

Hedge funds influence Toronto-Dominion Bank

A number of institutional investors have recently modified their holdings of TD. Canoe Financial LP boosted its stake in Toronto-Dominion Bank by 2,035.4% in the fourth quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after acquiring an additional 40,803,711 shares during the period. Norges Bank bought a new position in Toronto-Dominion Bank in the 4th quarter valued at about $1,478,898,000. TD Asset Management Inc boosted its position in shares of Toronto-Dominion Bank by 28.9% in the fourth quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after acquiring an additional 10,415,591 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Toronto-Dominion Bank in the fourth quarter valued at about $184,389,000. Finally, Dimensional Fund Advisors LP grew its stake in Toronto-Dominion Bank by 61.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after purchasing an additional 2,215,185 shares during the last quarter. Institutional investors own 52.37% of the company’s shares.

Toronto-Dominion Bank Company Profile

(Get a free report)

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, US Retail, Wealth Management and Insurance and Wholesale Banking.

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