Toronto-Dominion Bank (NYSE:TD) Coverage Initiated at UBS Group

Stock analysts at UBS Group assumed coverage on shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating on the bank’s stock.

TD has been the topic of a number of other research reports. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. National Bank Financial lowered shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. Finally, Barclays began coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and an average price target of $88.00.

Toronto-Dominion Bank Stock Performance

NYSE:TD opened at $55.68 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $97.28 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.51 and a beta of 0.82. The firm’s fifty day simple moving average is $55.93 and its 200 day simple moving average is $58.84. Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The firm had revenue of $10.18 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, equities research analysts expect that Toronto-Dominion Bank will post 5.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Toronto-Dominion Bank

A number of institutional investors have recently modified their holdings of TD. Canoe Financial LP grew its position in shares of Toronto-Dominion Bank by 2,035.4% during the 4th quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock valued at $2,766,281,000 after buying an additional 40,803,711 shares during the last quarter. Norges Bank bought a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at about $1,478,898,000. TD Asset Management Inc grew its position in shares of Toronto-Dominion Bank by 28.9% during the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after buying an additional 10,415,591 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at about $184,389,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Toronto-Dominion Bank by 20.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock valued at $1,039,691,000 after buying an additional 2,870,662 shares during the last quarter. 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.