Toronto-Dominion Bank (NYSE:TD) Upgraded by Scotiabank to Sector Outperform

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 Ratings reports.

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

Toronto-Dominion Bank Stock Up 1.2 %

Toronto-Dominion Bank stock opened at $56.83 on Wednesday. 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 firm has a market capitalization of $100.19 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.73 and a beta of 0.86. Toronto-Dominion Bank has a fifty-two week low of $54.69 and a fifty-two week high of $66.15. The stock’s fifty day moving average is $59.43 and its two-hundred day moving average is $60.07.

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

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th will be given a dividend of $0.7519 per share. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 8th. This represents a $3.01 annualized dividend and a yield of 5.29%. Toronto-Dominion Bank’s dividend payout ratio is 30.56%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fairfield Bush & CO. acquired a new position in Toronto-Dominion Bank during the first quarter worth approximately $26,000. Fortis Capital Advisors LLC purchased a new stake in Toronto-Dominion Bank during the fourth quarter worth approximately $26,000. PCA Investment Advisory Services Inc. purchased a new stake in Toronto-Dominion Bank during the second quarter worth approximately $26,000. Bray Capital Advisors grew its stake 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 buying an additional 310 shares during the period. Finally, Mather Group LLC. purchased a new stake in Toronto-Dominion Bank during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.