CIBC Cuts Toronto-Dominion Bank (TSE:TD) Price Target to C$83.50

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective reduced by CIBC from C$86.00 to C$83.50 in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Scotiabank raised Toronto-Dominion Bank from a sector perform rating to an outperform rating and upped their target price for the stock from C$86.00 to C$93.00 in a research report on Wednesday, April 17th. Bank of America reduced their price target on Toronto-Dominion Bank from C$88.00 to C$86.00 in a report on Wednesday, February 14th. Desjardins reduced their price target on Toronto-Dominion Bank from C$104.00 to C$93.00 and set a buy rating for the company in a report on Monday. National Bankshares reduced their target price on Toronto-Dominion Bank from C$92.00 to C$84.00 and set a sector perform rating on the stock in a report on Friday, May 3rd. Finally, BMO Capital Markets increased their target price on Toronto-Dominion Bank from C$81.00 to C$86.00 in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of C$89.23.

Toronto-Dominion Bank Stock Up 1.2 %

TSE:TD opened at C$76.90 on Monday. Toronto-Dominion Bank has a fifty-two week low of C$73.98 and a fifty-two week high of C$87.10. The stock has a market cap of C$136.11 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The firm’s fifty day simple moving average is C$80.29 and its 200-day simple moving average is C$81.34.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its earnings results on Thursday, February 29th. The company reported C$2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.93 by C$0.07. Toronto-Dominion Bank had a net margin of 23.86% and a return on equity of 10.72%. The company had revenue of C$13.71 billion for the quarter, compared to analyst estimates of C$12.63 billion. Equities analysts anticipate that Toronto-Dominion Bank will post 7.8654048 earnings per share for the current year.

Toronto-Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 30th were paid a $1.02 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $4.08 annualized dividend and a yield of 5.31%. Toronto-Dominion Bank’s dividend 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.