Toronto-Dominion Bank (NYSE:TD) Raised to “Outperform” at BMO Capital Markets

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, Marketbeat reports.

TD has been the subject of a number of other reports. Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada reduced their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, December 6th. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Price Performance

NYSE:TD opened at $51.81 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $55.62 and a 200 day simple moving average of $57.49. Toronto-Dominion Bank has a 1-year low of $51.63 and a 1-year high of $65.12. The stock has a market capitalization of $90.68 billion, a PE ratio of 14.93, a P/E/G ratio of 1.69 and a beta of 0.82.

Hedge Funds Weigh In On Toronto-Dominion Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC grew its holdings in Toronto-Dominion Bank by 57.1% during the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock worth $1,693,000 after acquiring an additional 9,725 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 lifted its holdings in Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after buying an additional 2,279,864 shares during the period. Galibier Capital Management Ltd. increased its stake 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 buying an additional 119,978 shares during the period. Finally, Forsta AP Fonden raised its position in shares of Toronto-Dominion Bank by 3.2% during the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock worth $29,531,000 after acquiring an additional 14,500 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.