Toronto-Dominion Bank (TSE:TD) Downgraded by Royal Bank of Canada

Royal Bank of Canada downgraded shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from an outperform rating to a sector perform rating in a research note published on Friday, Marketbeat.com reports. They currently have C$82.00 price target on the stock, down from their prior price target of C$88.00.

Several other research firms also recently commented on TD. Scotiabank lowered their price objective on shares of Toronto-Dominion Bank from C$87.00 to C$86.00 in a research note on Monday, August 19th. National Bankshares raised Toronto-Dominion Bank from an underperform rating to a sector perform rating and raised their target price for the stock from C$74.00 to C$78.00 in a report on Friday, August 23rd. Bank of America raised their price objective on Toronto-Dominion Bank from C$85.00 to C$90.00 in a report on Friday, August 23rd. CIBC raised their target price on Toronto-Dominion Bank from C$88.00 to C$100.00 in a research report on Friday, September 6th. Finally, Cormark decreased their target price on Toronto-Dominion Bank from C$87.00 to C$86.00 in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$86.65.

Toronto-Dominion Bank Stock Down 4.0 %

Toronto-Dominion Bank stock opened at C$78.48 on Friday. The company has a market capitalization of C$137.34 billion, a PE ratio of 18.17, a P/E/G ratio of 1.08 and a beta of 0.82. The firm has a fifty day simple moving average of C$82.47 and a two-hundred day simple moving average of C$79.42. Toronto-Dominion Bank has a twelve month low of C$73.67 and a twelve month high of C$87.99.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its quarterly earnings data on Thursday, August 22nd. The company reported C$2.05 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.07 by C($0.02). Toronto-Dominion Bank had a net margin of 15.72% and a return on equity of 7.33%. The company had revenue of C$14.18 billion for the quarter, compared to the consensus estimate of C$14.12 billion. As a group, equities analysts expect that Toronto-Dominion Bank will post 8.2112811 earnings per share 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. Stockholders of record on Thursday, October 31st will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 94.44%.

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.