Toronto-Dominion Bank (NYSE:TD) Raised to Sector Outperform at Scotiabank

Scotiabank upgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a sector perform rating to a sector outperform rating in a research note issued to investors on Wednesday morning, Marketbeat reports.

Several other research analysts also recently commented on TD. Barclays assumed coverage on Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an equal weight rating for the company. Jefferies Financial Group started coverage on Toronto-Dominion Bank in a report on Thursday, February 22nd. They issued a hold rating for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $89.33.

Toronto-Dominion Bank Stock Up 1.5 %

NYSE TD opened at $58.09 on Wednesday. The business has a fifty day moving average price of $59.37 and a 200 day moving average price of $60.05. Toronto-Dominion Bank has a one year low of $54.69 and a one year high of $66.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $102.42 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.75 and a beta of 0.86.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. The firm had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.35 billion. Research analysts anticipate that Toronto-Dominion Bank will post 5.85 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th will be issued a $0.7519 dividend. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 annualized dividend and a yield of 5.18%. The ex-dividend date is Monday, April 8th. Toronto-Dominion Bank’s dividend payout ratio is presently 30.56%.

Institutional Trading of Toronto-Dominion Bank

Several large investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. purchased a new position in shares of Toronto-Dominion Bank during the 1st quarter worth $26,000. Fortis Capital Advisors LLC purchased a new position in shares of Toronto-Dominion Bank during the 4th quarter worth $26,000. PCA Investment Advisory Services Inc. purchased a new position in shares of Toronto-Dominion Bank during the 2nd quarter worth $26,000. Mather Group LLC. purchased a new position in shares of Toronto-Dominion Bank during the 1st quarter worth $29,000. Finally, Bray Capital Advisors boosted its holdings in Toronto-Dominion Bank by 206.7% during the 3rd quarter. Bray Capital Advisors now owns 460 shares of the bank’s stock valued at $28,000 after acquiring an additional 310 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Company Profile

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.