Toronto-Dominion Bank (TSE:TD) Stock Rating Upgraded by Scotiabank

Scotiabank upgraded shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from a sector perform rating to an outperform rating in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has C$93.00 price objective on the stock, up from their previous price objective of C$86.00.

A number of other equities analysts also recently commented on TD. Bank of America decreased their target price on Toronto-Dominion Bank from C$88.00 to C$86.00 in a report on Wednesday, February 14th. Desjardins decreased their price objective on Toronto-Dominion Bank from C$96.00 to C$94.00 and set a buy rating for the company in a report on Wednesday, February 7th. Canaccord Genuity Group raised their price target on Toronto-Dominion Bank from C$95.00 to C$96.00 and gave the company a buy rating in a report on Friday, March 1st. BMO Capital Markets raised their price target on Toronto-Dominion Bank from C$81.00 to C$86.00 in a report on Friday, April 5th. Finally, CIBC dropped their price objective on Toronto-Dominion Bank from C$88.00 to C$86.00 and set a neutral rating on the stock in a research report on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$91.02.

Toronto-Dominion Bank Price Performance

Shares of TD opened at C$79.88 on Wednesday. The firm has a market cap of C$141.39 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.08 and a beta of 0.83. The stock has a 50 day simple moving average of C$80.55 and a two-hundred day simple moving average of C$81.39. Toronto-Dominion Bank has a 1 year low of C$75.89 and a 1 year high of C$87.10.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its quarterly earnings data on Thursday, February 29th. The company reported C$2.00 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.93 by C$0.07. The firm had revenue of C$13.71 billion during the quarter, compared to analyst estimates of C$12.63 billion. Toronto-Dominion Bank had a return on equity of 10.72% and a net margin of 23.86%. On average, equities analysts anticipate that Toronto-Dominion Bank will post 7.8683417 earnings per share for the current year.

Toronto-Dominion Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, April 8th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.11%. Toronto-Dominion Bank’s payout ratio is currently 64.45%.

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.