Toronto-Dominion Bank (NYSE:TD) Upgraded to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a market perform rating to an outperform rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports.

Several other research analysts have also issued reports on TD. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Price Performance

TD stock opened at $52.25 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02. Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $65.12. The firm has a 50-day moving average of $55.37 and a 200 day moving average of $57.44. The company has a market cap of $91.45 billion, a P/E ratio of 15.06, a PEG ratio of 1.69 and a beta of 0.82.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be paid a dividend of $0.7482 per share. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date of this dividend is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 89.34%.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several institutional investors have recently modified their holdings of TD. Dunhill Financial LLC boosted its holdings in shares of Toronto-Dominion Bank by 164.9% during the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after acquiring an additional 249 shares during the last quarter. Blue Trust Inc. boosted its holdings in Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after purchasing an additional 212 shares during the last quarter. Kimelman & Baird LLC bought a new stake in Toronto-Dominion Bank in the 2nd quarter worth approximately $49,000. Morse Asset Management Inc purchased a new stake in Toronto-Dominion Bank during the 3rd quarter valued at $63,000. Finally, Eastern Bank bought a new position in shares of Toronto-Dominion Bank during the 3rd quarter valued at $66,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.