Toronto-Dominion Bank (NYSE:TD) Upgraded 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 report report published on Wednesday, Marketbeat.com reports.

Other research analysts also recently issued research reports about 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. Jefferies Financial Group started coverage on shares of Toronto-Dominion Bank in a research report on Thursday, February 22nd. They issued a hold rating for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Toronto-Dominion Bank currently has an average rating of Hold and a consensus price target of $89.33.

Toronto-Dominion Bank Trading Up 1.5 %

NYSE TD opened at $58.09 on Wednesday. The company has a fifty day moving average of $59.37 and a 200 day moving average of $60.05. The company has a market capitalization of $102.42 billion, a PE ratio of 12.41, a P/E/G ratio of 1.75 and a beta of 0.86. Toronto-Dominion Bank has a 1 year low of $54.69 and a 1 year high of $66.15. 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 (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The business had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.35 billion. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. Research analysts forecast that Toronto-Dominion Bank will post 5.85 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The business 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 dividend of $0.7519 per share. The ex-dividend date is Monday, April 8th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.18%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. Toronto-Dominion Bank’s payout ratio is currently 30.56%.

Institutional Trading of Toronto-Dominion Bank

Several large investors have recently bought and sold shares of TD. Canoe Financial LP grew its stake in Toronto-Dominion Bank by 2,035.4% during the 4th quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock valued at $2,766,281,000 after acquiring an additional 40,803,711 shares in the last quarter. Norges Bank purchased a new stake in shares of Toronto-Dominion Bank in the 4th quarter valued at approximately $1,484,341,000. TD Asset Management Inc grew its stake in shares of Toronto-Dominion Bank by 28.9% in the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after buying an additional 10,415,591 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Toronto-Dominion Bank by 40.7% in the 1st quarter. JPMorgan Chase & Co. now owns 15,905,184 shares of the bank’s stock valued at $952,719,000 after buying an additional 4,604,833 shares during the period. Finally, State Street Corp grew its stake in shares of Toronto-Dominion Bank by 38,639.3% in the 2nd quarter. State Street Corp now owns 3,121,614 shares of the bank’s stock valued at $193,571,000 after buying an additional 3,113,556 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.