Scotiabank Trims Toronto-Dominion Bank (TSE:TD) Target Price to C$87.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price target cut by Scotiabank from C$90.00 to C$87.00 in a report released on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on TD. Canaccord Genuity Group boosted their price objective on shares of Toronto-Dominion Bank from C$95.00 to C$96.00 and gave the company a buy rating in a research report on Friday, March 1st. National Bankshares decreased their price objective on Toronto-Dominion Bank from C$92.00 to C$84.00 and set a sector perform rating for the company in a report on Friday, May 3rd. Jefferies Financial Group raised their target price on shares of Toronto-Dominion Bank from C$74.00 to C$76.00 and gave the company a hold rating in a research report on Friday. Bank of America lowered their price target on shares of Toronto-Dominion Bank from C$88.00 to C$86.00 in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada lifted their price objective on shares of Toronto-Dominion Bank from C$87.00 to C$89.00 and gave the company an outperform rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of C$88.32.

Toronto-Dominion Bank Stock Performance

TSE TD opened at C$77.28 on Friday. The company has a market cap of C$136.79 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.08 and a beta of 0.82. The business’s 50 day moving average price is C$79.24 and its 200-day moving average price is C$81.21. Toronto-Dominion Bank has a fifty-two week low of C$73.98 and a fifty-two week high of C$87.10.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its quarterly earnings results on Thursday, May 23rd. The company reported C$2.04 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of C$13.82 billion during the quarter, compared to analysts’ expectations of C$13.38 billion. As a group, equities analysts predict that Toronto-Dominion Bank will post 7.8263052 EPS for the current year.

Toronto-Dominion Bank Announces Dividend

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