Toronto-Dominion Bank (NYSE:TD) PT Lowered to C$100.00 at Scotiabank

Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) had its target price reduced by Scotiabank from C$101.00 to C$100.00 in a report released on Tuesday morning, The Fly reports.

Several other equities research analysts have also weighed in on the company. Keefe, Bruyette & Woods upgraded Toronto-Dominion Bank from a market perform rating to an outperform rating in a research report on Friday, September 2nd. CIBC dropped their price target on Toronto-Dominion Bank from C$100.00 to C$97.00 in a research report on Tuesday, August 16th. StockNews.com began coverage on Toronto-Dominion Bank in a research note on Wednesday, October 12th. They set a hold rating for the company. Credit Suisse Group lifted their price objective on Toronto-Dominion Bank from C$94.00 to C$95.00 in a research note on Friday, August 26th. Finally, Royal Bank of Canada upgraded Toronto-Dominion Bank from a sector perform rating to an outperform rating in a research note on Friday, August 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Toronto-Dominion Bank has an average rating of Hold and a consensus price target of $100.70.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $68.11 on Tuesday. The firm has a market cap of $123.59 billion, a P/E ratio of 10.95, a P/E/G ratio of 1.41 and a beta of 0.90. Toronto-Dominion Bank has a fifty-two week low of $57.27 and a fifty-two week high of $86.01. The business’s 50 day moving average price is $63.86 and its 200-day moving average price is $66.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94.

Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) last released its quarterly earnings results on Thursday, August 25th. The bank reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. Toronto-Dominion Bank had a return on equity of 16.09% and a net margin of 22.93%. The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the company posted $1.60 earnings per share. On average, equities research analysts anticipate that Toronto-Dominion Bank will post 6.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TD. Financial Management Professionals Inc. raised its stake in shares of Toronto-Dominion Bank by 75.1% in the third quarter. Financial Management Professionals Inc. now owns 408 shares of the bank’s stock worth $25,000 after purchasing an additional 175 shares during the last quarter. Fairfield Bush & CO. bought a new stake in shares of Toronto-Dominion Bank in the first quarter worth $26,000. HHM Wealth Advisors LLC bought a new stake in shares of Toronto-Dominion Bank in the second quarter worth $27,000. Northwest Investment Counselors LLC bought a new stake in shares of Toronto-Dominion Bank in the second quarter worth $31,000. Finally, Pinebridge Investments L.P. grew its holdings in shares of Toronto-Dominion Bank by 52.8% in the second quarter. Pinebridge Investments L.P. now owns 541 shares of the bank’s stock worth $46,000 after acquiring an additional 187 shares during the period. Hedge funds and other institutional investors own 49.10% of the company’s stock.

About Toronto-Dominion Bank

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The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking segments. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.

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Analyst Recommendations for Toronto-Dominion Bank (NYSE:TD)

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