Toronto-Dominion Bank (TSE:TD) Price Target Raised to C$93.50

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective lifted by Canaccord Genuity Group from C$91.00 to C$93.50 in a research report released on Friday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on TD. Royal Bank of Canada upped their price objective on Toronto-Dominion Bank from C$87.00 to C$89.00 and gave the company an outperform rating in a report on Friday. CIBC raised Toronto-Dominion Bank from a neutral rating to an outperform rating and lifted their price objective for the company from C$83.50 to C$88.00 in a report on Friday. National Bankshares reduced their price target on Toronto-Dominion Bank from C$92.00 to C$84.00 and set a sector perform rating on the stock in a research report on Friday, May 3rd. Bank of America dropped their price target on Toronto-Dominion Bank from C$88.00 to C$86.00 in a research note on Wednesday, February 14th. Finally, BMO Capital Markets reduced their target price on Toronto-Dominion Bank from C$86.00 to C$84.00 and set a market perform rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of Moderate Buy and an average price target of C$88.42.

Toronto-Dominion Bank Stock Performance

Shares of TD stock traded up C$1.70 during trading hours on Friday, reaching C$77.28. The company had a trading volume of 5,132,244 shares, compared to its average volume of 7,439,939. The company has a market capitalization of C$136.79 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The stock’s fifty day simple moving average is C$79.24 and its 200 day simple moving average is C$81.20. Toronto-Dominion Bank has a twelve month low of C$73.98 and a twelve month 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 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.84 by C$0.20. Toronto-Dominion Bank had a return on equity of 10.72% and a net margin of 23.86%. The business had revenue of C$13.82 billion during the quarter, compared to analyst estimates of C$13.38 billion. As a group, equities analysts expect that Toronto-Dominion Bank will post 7.8263052 earnings per share for the current year.

Toronto-Dominion Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s payout ratio is 64.45%.

Toronto-Dominion Bank Company Profile

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.