Jefferies Financial Group Upgrades Toronto-Dominion Bank (NYSE:TD) to “Buy”

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada dropped 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. Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, StockNews.com raised shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Trading Down 0.3 %

Toronto-Dominion Bank stock opened at $53.29 on Thursday. The firm’s 50-day moving average is $56.49 and its 200-day moving average is $57.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.03. Toronto-Dominion Bank has a 1 year low of $51.74 and a 1 year high of $65.12. The company has a market cap of $93.27 billion, a P/E ratio of 15.36, a PEG ratio of 1.70 and a beta of 0.82.

Institutional Trading of Toronto-Dominion Bank

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

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.