Bank of America Reinstates Toronto-Dominion Bank to Buy

Brokerage firm Bank of America Reinstates its rating on Toronto-Dominion Bank(NYSE:TD). The shares have been rated Buy. The rating by Bank of America was issued on Jul 12, 2016.

In a different note, On May 3, 2016, Credit Suisse said it Upgrades its rating on Toronto-Dominion Bank. The shares have been rated ‘Outperform’ by the firm.

Toronto-Dominion Bank (TD) made into the market gainers list on Fridays trading session with the shares advancing 0.11% or 0.05 points. Due to strong positive momentum, the stock ended at $43.81, which is also near the day’s high of $43.95. The stock began the session at $43.93 and the volume stood at 11,72,778 shares. The 52-week high of the shares is $45.74 and the 52 week low is $33.485. The company has a current market capitalization of $81,202 M and it has 1,85,35,00,000 shares in outstanding.

Toronto-Dominion Bank(TD) last announced its earnings results on May 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $6.40B. Analysts had an estimated revenue of $8.00B. Earnings per share were $0.92. Analysts had estimated an EPS of $1.16.

The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank conducts its business through segments such as Canadian Retail U.S. Retail Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses including credit cards auto finance wealth and insurance businesses. U.S. Retail consists of the Bank’s retail and commercial banking operations operating under the brand TD Bank America’s Most Convenient Bank and wealth management services in the United States. Wholesale Banking provides a range of capital markets investment banking and corporate banking products and services including underwriting and distribution of new debt and equity issues providing advice on strategic acquisitions and divestitures and meeting the daily trading funding and investment needs of its clients. The Bank is also an online financial services firm.

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