Jefferies Financial Group Upgrades Toronto-Dominion Bank (TSE:TD) to “Buy”

Jefferies Financial Group upgraded shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from a hold rating to a buy rating in a research report report published on Thursday morning,BayStreet.CA reports. Jefferies Financial Group currently has C$90.00 price target on the stock, up from their prior price target of C$82.00.

Several other brokerages have also recently commented on TD. CIBC decreased their target price on Toronto-Dominion Bank from C$93.00 to C$90.00 in a research report on Friday, December 6th. Bank of America raised their price objective on Toronto-Dominion Bank from C$85.00 to C$90.00 in a research report on Friday, August 23rd. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$88.00 to C$82.00 in a research report on Friday, October 11th. National Bank Financial raised shares of Toronto-Dominion Bank from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Scotiabank downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$98.00 to C$81.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$86.67.

Toronto-Dominion Bank Stock Performance

Shares of TSE:TD opened at C$75.87 on Thursday. The firm has a 50 day simple moving average of C$79.01 and a 200 day simple moving average of C$79.14. Toronto-Dominion Bank has a 52 week low of C$73.22 and a 52 week high of C$87.99. The company has a market cap of C$132.77 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82.

Toronto-Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 31st were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 94.44%.

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.