Toronto-Dominion Bank (TSE:TD) Raised to Outperform at Scotiabank

Scotiabank upgraded shares of Toronto-Dominion Bank (TSE:TD - Free Report) 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 prior target price of C$86.00.

A number of other brokerages have also weighed in on TD. Desjardins reduced 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. National Bankshares upped their price target 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. BMO Capital Markets upped 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. CIBC cut 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. Finally, Bank of America cut their target price on shares of Toronto-Dominion Bank from C$88.00 to C$86.00 in a research note on Wednesday, February 14th. Four equities 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 an average rating of Moderate Buy and a consensus price target of C$91.02.

Toronto-Dominion Bank Stock Performance

Shares of TD traded up C$0.71 during midday trading on Wednesday, hitting C$78.28. 8,768,156 shares of the stock traded hands, compared to its average volume of 7,624,722. Toronto-Dominion Bank has a 1-year low of C$75.89 and a 1-year high of C$87.10. The firm has a market capitalization of C$138.56 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The business's 50 day moving average price is C$80.57 and its two-hundred day moving average price is C$81.42.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last posted its earnings results on Thursday, February 29th. The company reported C$2.00 EPS for the quarter, topping 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 analysts' expectations of C$12.63 billion. As a group, equities research analysts forecast that Toronto-Dominion Bank will post 7.8683417 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $1.02 per share. The ex-dividend date is Monday, April 8th. This represents a $4.08 annualized dividend and a dividend yield of 5.21%. Toronto-Dominion Bank's dividend payout ratio (DPR) 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.