Toronto-Dominion Bank (TSE:TD) Rating Increased to Outperform at 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 published on Wednesday, BayStreet.CA reports. Scotiabank currently has C$93.00 target price on the stock, up from their previous target price of C$86.00.

TD has been the subject of a number of other reports. Desjardins dropped their price objective on shares of Toronto-Dominion Bank from C$96.00 to C$94.00 and set a buy rating for the company in a research note on Wednesday, February 7th. Bank of America dropped their price objective on shares of Toronto-Dominion Bank from C$88.00 to C$86.00 in a research note on Wednesday, February 14th. BMO Capital Markets raised their price objective on shares of Toronto-Dominion Bank from C$81.00 to C$86.00 in a research note on Friday, April 5th. National Bankshares raised their price objective on shares of Toronto-Dominion Bank from C$86.00 to C$92.00 and gave the stock a sector perform rating in a research note on Wednesday, December 20th. Finally, CIBC lowered their target price on shares of Toronto-Dominion Bank from C$88.00 to C$86.00 and set a neutral rating for the company in a research note on Friday, March 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of C$91.02.

Toronto-Dominion Bank Stock Up 1.3 %

Shares of TSE:TD opened at C$79.88 on Wednesday. The company has a market cap of C$141.39 billion, a P/E ratio of 12.62, a PEG ratio of 1.08 and a beta of 0.83. Toronto-Dominion Bank has a 52 week low of C$75.89 and a 52 week high of C$87.10. The company has a 50-day moving average price of C$80.55 and a 200 day moving average price of C$81.41.

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

Toronto-Dominion Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 30th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, April 8th. This represents a $4.08 annualized dividend and a dividend yield of 5.11%. Toronto-Dominion Bank’s payout ratio is 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.