Toronto-Dominion Bank (NYSE:TD) Stock Rating Upgraded by 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, MarketBeat.com reports.

Other analysts have also issued research reports about the stock. Jefferies Financial Group initiated coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They set a hold rating on the stock. Barclays assumed coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an equal weight rating for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $89.33.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock opened at $58.09 on Wednesday. The firm’s 50-day moving average is $59.37 and its two-hundred day moving average is $60.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.99 and a quick ratio of 0.99. Toronto-Dominion Bank has a 12-month low of $54.69 and a 12-month high of $66.15. The stock has a market capitalization of $102.42 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.77 and a beta of 0.86.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. The business had revenue of $10.07 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Equities analysts predict that Toronto-Dominion Bank will post 5.85 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

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

Institutional Investors Weigh In On Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently bought and sold shares of TD. Fairfield Bush & CO. acquired a new stake in Toronto-Dominion Bank during the 1st quarter worth about $26,000. Fortis Capital Advisors LLC bought a new stake in shares of Toronto-Dominion Bank in the 4th quarter valued at approximately $26,000. PCA Investment Advisory Services Inc. bought a new stake in shares of Toronto-Dominion Bank in the 2nd quarter valued at approximately $26,000. Bray Capital Advisors boosted its position in Toronto-Dominion Bank by 206.7% during the third quarter. Bray Capital Advisors now owns 460 shares of the bank’s stock worth $28,000 after purchasing an additional 310 shares during the period. Finally, Mather Group LLC. bought a new stake in Toronto-Dominion Bank during the first quarter worth approximately $29,000. 52.37% of the stock is currently owned by institutional investors.

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.