Royal Bank of Canada Trims Toronto-Dominion Bank (TSE:TD) Target Price to C$88.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price target trimmed by Royal Bank of Canada from C$89.00 to C$88.00 in a report issued on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. National Bank Financial downgraded shares of Toronto-Dominion Bank from a hold rating to a strong sell rating in a research note on Thursday, May 23rd. Desjardins reduced their price objective on shares of Toronto-Dominion Bank from C$91.00 to C$90.00 and set a buy rating on the stock in a research note on Friday. UBS Group set a C$82.00 target price on shares of Toronto-Dominion Bank and gave the stock a neutral rating in a research report on Tuesday, July 2nd. Cormark boosted their price target on Toronto-Dominion Bank from C$86.00 to C$87.00 and gave the company a buy rating in a report on Tuesday, August 20th. Finally, Cibc World Mkts upgraded Toronto-Dominion Bank from a hold rating to a strong-buy rating in a report on Friday, May 24th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Toronto-Dominion Bank has an average rating of Moderate Buy and an average price target of C$87.27.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock opened at C$80.18 on Friday. The business has a 50 day moving average price of C$77.91 and a 200 day moving average price of C$78.70. The company has a market capitalization of C$141.12 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.08 and a beta of 0.82. Toronto-Dominion Bank has a 1 year low of C$73.67 and a 1 year high of C$86.89.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its quarterly earnings results on Thursday, May 23rd. The company reported C$2.04 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.84 by C$0.20. The company had revenue of C$13.82 billion during 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, research analysts expect that Toronto-Dominion Bank will post 8.3985432 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 68.34%.

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.