Toronto-Dominion Bank (NYSE:TD) Upgraded to Buy at Bank of America

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Friday,Briefing.com Automated Import reports.

Several other research firms have also commented on TD. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Royal Bank of Canada decreased their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Finally, Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of TD traded up $1.71 on Friday, reaching $57.03. The company’s stock had a trading volume of 1,403,970 shares, compared to its average volume of 3,060,513. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The stock has a market capitalization of $99.82 billion, a P/E ratio of 16.44, a PEG ratio of 1.72 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $54.50 and its two-hundred day simple moving average is $57.31.

Institutional Investors Weigh In On Toronto-Dominion Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dunhill Financial LLC boosted its position in shares of Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after buying an additional 249 shares during the period. Versant Capital Management Inc boosted its holdings in Toronto-Dominion Bank by 40.0% during the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Kimelman & Baird LLC bought a new position in Toronto-Dominion Bank in the 2nd quarter valued at $49,000. Morse Asset Management Inc purchased a new stake in Toronto-Dominion Bank in the third quarter worth $63,000. Finally, Eastern Bank bought a new stake in shares of Toronto-Dominion Bank during the third quarter worth $66,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.