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 released on Wednesday morning, MarketBeat reports.

Other research analysts have also issued reports about the company. Barclays assumed coverage on Toronto-Dominion Bank in a research report on Wednesday, March 20th. They issued an equal weight rating for the company. Jefferies Financial Group assumed coverage on Toronto-Dominion Bank in a research 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $89.33.

Toronto-Dominion Bank Trading Up 1.5 %

NYSE TD opened at $58.09 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09. Toronto-Dominion Bank has a twelve month low of $54.69 and a twelve month high of $66.15. The company has a market cap of $102.42 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.77 and a beta of 0.86. The business’s fifty day moving average is $59.37 and its 200 day moving average is $60.06.

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

Toronto-Dominion Bank Increases Dividend

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

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Trust N.A. lifted its stake in Toronto-Dominion Bank by 1.7% in the first quarter. Raymond James Trust N.A. now owns 9,868 shares of the bank’s stock valued at $784,000 after purchasing an additional 161 shares during the last quarter. Private Trust Co. NA increased its stake in Toronto-Dominion Bank by 10.6% in the fourth quarter. Private Trust Co. NA now owns 1,808 shares of the bank’s stock valued at $117,000 after acquiring an additional 174 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in Toronto-Dominion Bank by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 20,126 shares of the bank’s stock valued at $1,301,000 after buying an additional 174 shares during the period. Centaurus Financial Inc. boosted its position in Toronto-Dominion Bank by 7.7% during the first quarter. Centaurus Financial Inc. now owns 2,447 shares of the bank’s stock valued at $147,000 after buying an additional 174 shares during the period. Finally, Park Avenue Securities LLC boosted its position in Toronto-Dominion Bank by 5.3% during the first quarter. Park Avenue Securities LLC now owns 3,641 shares of the bank’s stock valued at $220,000 after buying an additional 184 shares during the period. Hedge funds and other institutional investors 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.