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Summary
- Both the lenders’ stocks are trending among major the TMX’s stocklists following their gains in the last 30 days.
- Both banking stocks have delivered double-digit growth in the last one month.
- TD pays a quarterly cash dividend of C$0.79, and Scotiabank distributes a quarterly cash dividend of C$.0.90 per stock.
The Toronto-Dominion Bank (TSX:TD) and Bank of Nova Scotia (TSX:BNS) were among the top trending bank stocks in Canadian markets today. Toronto-Dominion became the first Canadian bank to sign up with Amazon's Shop with a reward redemption program, letting its clients redeem their TD reward points to shop at amazon.ca.
Bank of Nova Scotia, on the other hand, launched real-time payment service INTERAC e-Transfer allowing its customers to transfer and receive real-time payments using minimal account holder details.
Let us have a look at the stock performance of these two bank stocks:
Toronto-Dominion Bank (TSX:TD)
Current Stock Price: C$ 71.69
TD stocks have increased by over 10 per cent in the last month and delivered a return of nearly 16 per cent in the last six months. The stock of Canada’s largest bank offers a return on equity (ROE) of 13.17 per cent. The bank pays a quarterly cash dividend of C$ 0.79 per stock, with a current dividend yield of 4.4 per cent.
The bank stock’s price-to-earnings (P/E) ratio is 11.20, and its debt-to-equity (D/E) ratio stands at 0.20. Its profit-to-book (P/B) ratio is 1.449, and its present earnings per share (EPS) are C$ 6.42, as per data on the TMX portal.
The blue-chip stock ranks among TMX Money’s top financial services, which lists stocks with the largest price gains in the last 30 days across the TSX and the TSXV. TD stocks are placed among TMX’s Top price performers and top volume performs, lists of stocks outperforming the market in the last 30 days.
Its 10-day average trading volume of 4.51 million units.
The lender reported diluted earnings of C$ 6.43 per stock for fiscal 2020, against C$ 6.25 per stock for fiscal 2019. TD posted a net income of C$ 11,895 million in FY20, compared to C$ 11,686 million in FY19.
Bank of Nova Scotia (TSX:BNS)
Current Stock Price: C$ 68.16
Scotiabank stocks have soared over 12 per cent in the last one month and has returned nearly 17 per cent in the last six months. However, it has declined by 7 per cent year-to-date.
This bank also made it to the following three TMX’s Stocklists: Top Volume, Top Price Performer, and Top Financial Services. Its 10-day average stock trading volume is nearly 4 million units.
The lender holds a quarterly cash dividend of C$ 0.90, and its present dividend yield stands at 5.282 per cent. The blue-chip stock delivers a positive ROE of 10.11 per cent.
Scotiabank stock’s P/E ratio is 12.70, and its D/E ratio is 0.17. Its P/B ratio is 1.315, and its current EPS is C$ 5.43, according to TMX data.
In the fourth quarter of 2020, the bank registered a net income of approximately C$ 1.9 billion versus C$ 2.3 billion in the same period the prior year.
