Canaccord Genuity Group Cuts Toronto-Dominion Bank (TSE:TD) Price Target to C$196.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price target lowered by Canaccord Genuity Group from C$197.00 to C$196.00 in a research note published on Thursday,BayStreet reports.

Other equities analysts have also issued reports about the company. Raymond James Financial raised their price target on Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Jefferies Financial Group boosted their price objective on Toronto-Dominion Bank from C$159.00 to C$164.00 in a research report on Friday, August 28th. National Bank Financial increased their price objective on Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the company an “outperform” rating in a research note on Sunday, August 30th. Keefe, Bruyette & Woods raised their target price on shares of Toronto-Dominion Bank from C$180.00 to C$187.00 in a report on Monday, August 31st. Finally, Royal Bank Of Canada lifted their target price on shares of Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$171.08.

Toronto-Dominion Bank Price Performance

Shares of TD opened at C$168.24 on Thursday. Toronto-Dominion Bank has a 1-year low of C$102.50 and a 1-year high of C$175.33. The company has a market capitalization of C$275.66 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.22 and a beta of 0.81. The firm’s 50 day simple moving average is C$169.11 and its 200 day simple moving average is C$152.81.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 EPS for the quarter. The firm had revenue of C$16.93 billion for the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. On average, equities analysts anticipate that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 31st were given a dividend of $1.12 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 46.36%.

Insider Activity at Toronto-Dominion Bank

In related news, insider Paul Martyn Clark sold 27,649 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$161.22, for a total transaction of C$4,457,571.78. Following the sale, the insider owned 260 shares of the company’s stock, valued at C$41,917.20. The trade was a 99.07% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Company Profile

TD Asset Management Inc (‘TDAM’), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.