Toronto-Dominion Bank (NYSE:TD) PT Lowered to $84.00

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) had its target price trimmed by BMO Capital Markets from $86.00 to $84.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

Several other analysts have also issued reports on TD. Scotiabank raised shares of Toronto-Dominion Bank from a sector perform rating to a sector outperform rating in a research report on Wednesday, April 17th. Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a report on Thursday, February 22nd. They issued a hold rating on the stock. National Bank Financial cut shares of Toronto-Dominion Bank from a sector perform rating to an underperform rating in a research report on Thursday. Finally, Barclays began coverage on shares of Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an equal weight rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank currently has a consensus rating of Hold and a consensus target price of $88.00.

Toronto-Dominion Bank Stock Performance

Shares of NYSE:TD traded up $1.55 during midday trading on Friday, hitting $56.56. The company’s stock had a trading volume of 2,701,031 shares, compared to its average volume of 3,135,615. The stock has a market capitalization of $99.52 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.71 and a beta of 0.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99. Toronto-Dominion Bank has a fifty-two week low of $54.12 and a fifty-two week high of $66.15. The stock’s 50 day simple moving average is $58.05 and its 200 day simple moving average is $59.93.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. The firm had revenue of $10.18 billion during the quarter, compared to analyst estimates of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.35%. As a group, research analysts anticipate that Toronto-Dominion Bank will post 5.72 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a dividend of $0.74 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.23%. Toronto-Dominion Bank’s dividend payout ratio is currently 68.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cetera Advisors LLC lifted its stake in shares of Toronto-Dominion Bank by 217.1% in the 1st quarter. Cetera Advisors LLC now owns 34,664 shares of the bank’s stock valued at $2,093,000 after purchasing an additional 23,732 shares during the period. Cetera Investment Advisers grew its position in shares of Toronto-Dominion Bank by 173.2% in the first quarter. Cetera Investment Advisers now owns 74,887 shares of the bank’s stock valued at $4,522,000 after purchasing an additional 47,477 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Toronto-Dominion Bank in the first quarter valued at approximately $1,388,000. Virtu Financial LLC lifted its stake in Toronto-Dominion Bank by 41.6% during the first quarter. Virtu Financial LLC now owns 30,219 shares of the bank’s stock worth $1,825,000 after purchasing an additional 8,885 shares during the last quarter. Finally, Murchinson Ltd. acquired a new position in shares of Toronto-Dominion Bank during the first quarter worth $12,570,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.