UBS Group Initiates Coverage on Toronto-Dominion Bank (NYSE:TD)

Investment analysts at UBS Group started coverage on shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in a note issued to investors on Tuesday, Briefing.com reports. The firm set a “neutral” rating on the bank’s stock.

A number of other research analysts have also weighed in on TD. National Bank Financial lowered Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. BMO Capital Markets reduced their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. Finally, Barclays initiated coverage on Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Hold” and an average price target of $88.00.

Toronto-Dominion Bank Trading Down 0.8 %

Shares of TD stock opened at $54.54 on Tuesday. The stock’s fifty day moving average is $56.09 and its two-hundred day moving average is $58.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $95.30 billion, a P/E ratio of 12.40, a PEG ratio of 1.51 and a beta of 0.82. Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $66.15.

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

Hedge Funds Weigh In On Toronto-Dominion Bank

Several institutional investors have recently bought and sold shares of TD. Advisors Asset Management Inc. grew its position in Toronto-Dominion Bank by 19.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 8,944 shares of the bank’s stock valued at $539,000 after acquiring an additional 1,475 shares in the last quarter. Legal & General Group Plc grew its position in shares of Toronto-Dominion Bank by 4.9% during the third quarter. Legal & General Group Plc now owns 10,496,272 shares of the bank’s stock worth $635,257,000 after buying an additional 493,235 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Toronto-Dominion Bank by 20.1% during the third quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock worth $1,039,691,000 after buying an additional 2,870,662 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Toronto-Dominion Bank by 3.1% during the third quarter. Integrated Wealth Concepts LLC now owns 21,846 shares of the bank’s stock worth $1,316,000 after buying an additional 666 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its position in shares of Toronto-Dominion Bank by 13.0% during the third quarter. Belpointe Asset Management LLC now owns 4,016 shares of the bank’s stock worth $242,000 after buying an additional 461 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

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.