Toronto-Dominion Bank (NYSE:TD) Rating Increased to Sector Outperform at Scotiabank

Scotiabank upgraded shares of Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD from a sector perform rating to a sector outperform rating in a research report report published on Wednesday morning, MarketBeat.com reports.

Several other brokerages have also recently weighed in on TD. Barclays started coverage on Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an equal weight rating for the company. Jefferies Financial Group started coverage on Toronto-Dominion Bank in a report on Thursday, February 22nd. They issued a hold rating for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $89.33.

Toronto-Dominion Bank Trading Up 1.2 %

Shares of NYSE TD traded up $0.70 during trading hours on Wednesday, hitting $56.83. 2,417,572 shares of the company traded hands, compared to its average volume of 2,937,229. The stock has a market capitalization of $100.19 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.74 and a beta of 0.86. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09. The company's 50 day moving average price is $59.48 and its 200 day moving average price is $60.09. Toronto-Dominion Bank has a 12 month low of $54.69 and a 12 month high of $66.15.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. The company 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%. On average, equities research analysts anticipate that Toronto-Dominion Bank will post 5.85 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th will be given a $0.7519 dividend. This represents a $3.01 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Monday, April 8th. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $0.75. Toronto-Dominion Bank's dividend payout ratio (DPR) is 30.56%.

Hedge Funds Weigh In On Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new position in Toronto-Dominion Bank during the first quarter worth approximately $26,000. Fortis Capital Advisors LLC purchased a new position in Toronto-Dominion Bank during the fourth quarter worth approximately $26,000. PCA Investment Advisory Services Inc. purchased a new position in Toronto-Dominion Bank during the second quarter worth approximately $26,000. Bray Capital Advisors lifted its position in Toronto-Dominion Bank by 206.7% during the third quarter. Bray Capital Advisors now owns 460 shares of the bank's stock worth $28,000 after buying an additional 310 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Toronto-Dominion Bank during the first quarter worth approximately $29,000. 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.