Toronto-Dominion Bank (TSE:TD) Upgraded to Outperform by CIBC

CIBC upgraded shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from a neutral rating to an outperform rating in a report published on Friday, BayStreet.CA reports. They currently have C$88.00 target price on the stock, up from their prior target price of C$83.50.

A number of other equities research analysts have also recently weighed in on the stock. Scotiabank cut their price objective on shares of Toronto-Dominion Bank from C$93.00 to C$90.00 and set an outperform rating on the stock in a research note on Friday, May 17th. Desjardins lowered their price target on Toronto-Dominion Bank from C$104.00 to C$93.00 and set a buy rating on the stock in a research report on Monday, May 6th. Bank of America decreased their price target on Toronto-Dominion Bank from C$88.00 to C$86.00 in a report on Wednesday, February 14th. BMO Capital Markets raised their price target on Toronto-Dominion Bank from C$81.00 to C$86.00 in a research report on Friday, April 5th. Finally, Canaccord Genuity Group lifted their price objective on shares of Toronto-Dominion Bank from C$95.00 to C$96.00 and gave the stock a buy rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$88.42.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock traded up C$1.70 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 firm’s 50 day moving average price is C$79.24 and its two-hundred day moving average price is C$81.20. The firm has a market cap of C$136.79 billion, a PE ratio of 12.21, a PEG ratio of 1.08 and a beta of 0.82. Toronto-Dominion Bank has a 52-week low of C$73.98 and a 52-week high of C$87.10.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last announced its quarterly earnings results on Thursday, May 23rd. The company reported C$2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.84 by C$0.20. The business had revenue of C$13.82 billion during the quarter, compared to the consensus estimate of C$13.38 billion. Toronto-Dominion Bank had a net margin of 23.86% and a return on equity of 10.72%. As a group, sell-side analysts predict that Toronto-Dominion Bank will post 7.8263052 EPS for the current year.

Toronto-Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $4.08 annualized dividend and a yield of 5.28%. 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.