10 Best Cheap Stocks to Buy for Beginners

8. The Toronto-Dominion Bank (NYSE:TD)

Number of Hedge Fund Holders: 33

The Toronto-Dominion Bank (NYSE:TD) is one of the best cheap stocks to buy for beginners. Scotiabank lifted the price target on The Toronto-Dominion Bank (NYSE:TD) to C$165 from C$150 on June 1 and maintained an Outperform rating on the shares. The company also received a rating update from Barclays on May 29, with the firm lifting the price target on The Toronto-Dominion Bank (NYSE:TD) to C$140 from C$135 while maintaining an Underweight rating on the shares. The rating updates came after the bank reported financial results for fiscal Q2 2026.

In its financial results for the quarter ended April 30, 2026, The Toronto-Dominion Bank (NYSE:TD) announced that reported diluted earnings per share were $2.43, compared with $6.27 in the prior year period, while adjusted diluted earnings per share were $2.38, compared to $1.97 in fiscal Q2 2025. Reported net income for the quarter was $4,251 million, compared with $11,129 million, with the adjusted net income reaching $4,168 million, compared with $3,626 million in the prior year period.

The Toronto-Dominion Bank (NYSE:TD) provides financial products and services. Its operations are divided into the following segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, Wholesale Banking, and Corporate segment.