Toronto-Dominion Bank (TSE:TD) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from a hold rating to a moderate buy rating in a research report report published on Friday morning, Marketbeat Ratings reports. Royal Bank Of Canada currently has C$120.00 price target on the stock, up from their prior price target of C$93.00.

A number of other analysts have also issued reports on TD. Desjardins increased their target price on Toronto-Dominion Bank from C$107.00 to C$110.00 and gave the company a “buy” rating in a report on Friday, August 29th. Jefferies Financial Group upped their price target on Toronto-Dominion Bank from C$120.00 to C$124.00 in a research report on Tuesday, September 30th. Barclays raised their price objective on Toronto-Dominion Bank from C$95.00 to C$97.00 and gave the stock an “underweight” rating in a research report on Friday, August 29th. Canaccord Genuity Group upped their target price on Toronto-Dominion Bank from C$113.00 to C$119.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Finally, CIBC raised their price target on shares of Toronto-Dominion Bank from C$109.00 to C$112.00 in a report on Friday, September 5th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$105.50.

Toronto-Dominion Bank Price Performance

TD stock opened at C$113.26 on Friday. The firm has a market capitalization of C$193.36 billion, a P/E ratio of 9.70, a P/E/G ratio of 1.22 and a beta of 0.95. Toronto-Dominion Bank has a 52-week low of C$73.22 and a 52-week high of C$114.24. The company’s 50 day simple moving average is C$104.61 and its 200-day simple moving average is C$96.49.

Toronto-Dominion Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 31st will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, October 10th. Toronto-Dominion Bank’s payout ratio is currently 35.70%.

Insider Activity at Toronto-Dominion Bank

In other news, insider Ajai Bambawale sold 39,376 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of C$112.07, for a total transaction of C$4,412,868.32. In the last quarter, insiders have sold 84,384 shares of company stock worth $9,456,915. Corporate insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Company Profile

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.