Toronto-Dominion Bank (TSE:TD) Cut to Sector Perform at Scotiabank

Scotiabank lowered shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from an outperform rating to a sector perform rating in a report published on Friday morning,BayStreet.CA reports. Scotiabank currently has C$81.00 target price on the stock, down from their prior target price of C$98.00.

A number of other brokerages have also weighed in on TD. Desjardins lowered their target price on Toronto-Dominion Bank from C$91.00 to C$90.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. National Bankshares upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from C$74.00 to C$78.00 in a research note on Friday, August 23rd. Bank of America increased their price target on Toronto-Dominion Bank from C$85.00 to C$90.00 in a research report on Friday, August 23rd. CIBC cut their price objective on shares of Toronto-Dominion Bank from C$96.00 to C$93.00 in a report on Tuesday, November 26th. Finally, Canaccord Genuity Group dropped their price target on shares of Toronto-Dominion Bank from C$91.50 to C$89.00 in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$86.00.

Toronto-Dominion Bank Stock Down 0.7 %

TD stock opened at C$73.51 on Friday. The company’s fifty day simple moving average is C$80.01 and its 200 day simple moving average is C$79.19. Toronto-Dominion Bank has a 12-month low of C$73.22 and a 12-month high of C$87.99. The firm has a market cap of C$128.64 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.22 and a beta of 0.82.

Toronto-Dominion Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 31st were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 94.44%.

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.