Toronto-Dominion Bank (TSE:TD) Raised 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 report published on Wednesday morning, BayStreet.CA reports. Scotiabank currently has C$93.00 target price on the stock, up from their prior target price of C$86.00.

A number of other research firms also recently issued reports on TD. CIBC dropped their price objective on shares of Toronto-Dominion Bank from C$88.00 to C$86.00 and set a neutral rating for the company in a report on Friday, March 8th. National Bankshares lifted 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 report on Wednesday, December 20th. Bank of America dropped their price objective on shares of Toronto-Dominion Bank from C$88.00 to C$86.00 in a report on Wednesday, February 14th. BMO Capital Markets boosted their price target on shares of Toronto-Dominion Bank from C$81.00 to C$86.00 in a research note on Friday, April 5th. Finally, Desjardins lowered their price target 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. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank has a consensus rating of Moderate Buy and a consensus target price of C$91.02.

Toronto-Dominion Bank Price Performance

Shares of TSE:TD opened at C$78.28 on Wednesday. The firm has a fifty day moving average price of C$80.57 and a two-hundred day moving average price of C$81.42. Toronto-Dominion Bank has a one year low of C$75.89 and a one year high of C$87.10. The company has a market cap of C$138.56 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.08 and a beta of 0.83.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$2.00 EPS for the quarter, beating the consensus estimate 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 firm had revenue of C$13.71 billion during the quarter, compared to the consensus estimate of C$12.63 billion. Equities research analysts expect that Toronto-Dominion Bank will post 7.8683417 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 30th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Monday, April 8th. Toronto-Dominion Bank’s payout ratio is 64.45%.

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.