Royal Bank Of Canada Boosts Toronto Dominion Bank (NYSE:TD) Price Target to $156.00

Toronto Dominion Bank (NYSE:TD) (TSE:TD) had its price objective increased by equities research analysts at Royal Bank Of Canada from $138.00 to $156.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 39.31% from the company’s previous close.

Several other brokerages also recently weighed in on TD. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings downgraded shares of Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Zacks Research downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Stock Performance

TD stock traded down $1.60 during trading on Monday, hitting $111.98. The company had a trading volume of 207,259 shares, compared to its average volume of 2,364,334. The firm has a 50-day moving average price of $103.24 and a 200-day moving average price of $96.16. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The firm has a market cap of $185.46 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72. Toronto Dominion Bank has a 1-year low of $68.99 and a 1-year high of $114.26.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company had revenue of $11.80 billion during the quarter, compared to analysts’ expectations of $11.04 billion. During the same period last year, the firm earned $1.97 EPS. The firm’s revenue for the quarter was down 31.1% on a year-over-year basis. On average, analysts expect that Toronto Dominion Bank will post 6.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Glenmede Trust Co. NA lifted its holdings in Toronto Dominion Bank by 14.2% in the first quarter. Glenmede Trust Co. NA now owns 13,250 shares of the bank’s stock valued at $1,236,000 after acquiring an additional 1,647 shares during the period. Bank of America Corp DE increased its holdings in shares of Toronto Dominion Bank by 7.8% in the 1st quarter. Bank of America Corp DE now owns 4,967,545 shares of the bank’s stock valued at $463,522,000 after purchasing an additional 358,412 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Toronto Dominion Bank by 25.9% in the 1st quarter. Arkadios Wealth Advisors now owns 4,038 shares of the bank’s stock valued at $377,000 after purchasing an additional 831 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Toronto Dominion Bank by 67.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,026 shares of the bank’s stock valued at $189,000 after purchasing an additional 818 shares during the period. Finally, Maverick Capital Ltd. acquired a new stake in shares of Toronto Dominion Bank in the first quarter valued at about $352,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.