Toronto-Dominion Bank (TSE:TD) Given New C$87.00 Price Target at Scotiabank

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price target trimmed by Scotiabank from C$90.00 to C$87.00 in a research note released on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on TD. Jefferies Financial Group boosted their price objective on shares of Toronto-Dominion Bank from C$74.00 to C$76.00 and gave the stock a hold rating in a research note on Friday. BMO Capital Markets lowered their target price on Toronto-Dominion Bank from C$86.00 to C$84.00 and set a market perform rating for the company in a research note on Friday. National Bankshares cut their price target on Toronto-Dominion Bank from C$92.00 to C$84.00 and set a sector perform rating on the stock in a report on Friday, May 3rd. Bank of America cut their price target on Toronto-Dominion Bank from C$88.00 to C$86.00 in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group lifted their price target on Toronto-Dominion Bank from C$95.00 to C$96.00 and gave the stock a buy rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of Moderate Buy and an average price target of C$88.42.

Toronto-Dominion Bank Trading Up 2.2 %

Toronto-Dominion Bank stock traded up C$1.70 during trading on Friday, hitting C$77.28. The company had a trading volume of 5,132,244 shares, compared to its average volume of 7,439,939. Toronto-Dominion Bank has a 1-year low of C$73.98 and a 1-year high of C$87.10. The company’s 50 day simple moving average is C$79.24 and its 200-day simple moving average is C$81.20. The stock has a market cap of C$136.79 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its earnings results on Thursday, May 23rd. The company reported C$2.04 earnings per share for the quarter, topping the consensus estimate of C$1.84 by C$0.20. Toronto-Dominion Bank had a net margin of 23.86% and a return on equity of 10.72%. The company had revenue of C$13.82 billion for the quarter, compared to analyst estimates of C$13.38 billion. As a group, analysts forecast that Toronto-Dominion Bank will post 7.8263052 earnings per share for the current fiscal year.

Toronto-Dominion Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s payout ratio 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.