Scotiabank Cuts Toronto-Dominion Bank (TSE:TD) Price Target to C$86.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective lowered by Scotiabank from C$87.00 to C$86.00 in a research note published on Monday morning, BayStreet.CA reports.

A number of other research firms also recently weighed in on TD. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a hold rating to a strong-buy rating in a report on Friday, May 24th. Desjardins decreased their price objective on Toronto-Dominion Bank from C$93.00 to C$91.00 and set a buy rating on the stock in a research report on Friday, May 24th. Royal Bank of Canada raised their price objective on Toronto-Dominion Bank from C$87.00 to C$89.00 and gave the company an outperform rating in a research note on Friday, May 24th. National Bank Financial cut Toronto-Dominion Bank from a hold rating to a strong sell rating in a report on Thursday, May 23rd. Finally, BMO Capital Markets decreased their price target on Toronto-Dominion Bank from C$86.00 to C$84.00 and set a market perform rating on the stock in a report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$86.90.

Toronto-Dominion Bank Stock Performance

Shares of TSE TD opened at C$79.59 on Monday. The firm’s fifty day moving average is C$77.79 and its two-hundred day moving average is C$78.72. Toronto-Dominion Bank has a 52-week low of C$73.67 and a 52-week high of C$86.89. The company has a market cap of C$140.08 billion, a P/E ratio of 13.33, a P/E/G 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 (EPS) for the quarter, topping the consensus estimate of C$1.84 by C$0.20. The firm had revenue of C$13.82 billion for the quarter, compared to analysts’ expectations of C$13.38 billion. Toronto-Dominion Bank had a return on equity of 9.89% and a net margin of 21.91%. As a group, analysts forecast that Toronto-Dominion Bank will post 8.3985432 EPS for the current fiscal year.

Toronto-Dominion Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.13%. Toronto-Dominion Bank’s payout ratio is presently 68.34%.

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.