Canaccord Genuity Trims Toronto-Dominion Bank (NYSE:TD) Target Price to $79.00

Share on StockTwits

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) had its price objective cut by Canaccord Genuity from $81.00 to $79.00 in a research report report published on Friday morning, Stock Target Advisor reports. They currently have a buy rating on the bank’s stock.

Several other research analysts have also recently issued reports on TD. CIBC cut shares of Toronto-Dominion Bank from a sector outperform rating to a neutral rating and set a $82.00 target price for the company. in a report on Thursday, November 21st. National Bank Financial set a $84.00 target price on shares of Toronto-Dominion Bank and gave the stock a buy rating in a research note on Friday, August 30th. Desjardins reiterated a buy rating and set a $81.00 price target on shares of Toronto-Dominion Bank in a report on Friday, November 22nd. CSFB downgraded shares of Toronto-Dominion Bank from an outperform rating to a neutral rating and reduced their price target for the company from $76.00 to $74.00 in a research report on Monday, October 28th. Finally, Barclays set a $80.00 price objective on shares of Toronto-Dominion Bank and gave the stock a buy rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $78.09.

NYSE TD opened at $55.35 on Friday. Toronto-Dominion Bank has a 12 month low of $47.73 and a 12 month high of $59.55. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $57.46 and its 200-day moving average price is $56.86. The stock has a market cap of $100.78 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.85 and a beta of 1.05.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, December 5th. The bank reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.28. The firm had revenue of $10.34 billion during the quarter, compared to analyst estimates of $10.08 billion. Toronto-Dominion Bank had a return on equity of 15.85% and a net margin of 19.76%. Toronto-Dominion Bank’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. As a group, analysts forecast that Toronto-Dominion Bank will post 5.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be given a $0.5605 dividend. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, January 9th. This represents a $2.24 dividend on an annualized basis and a yield of 4.05%. Toronto-Dominion Bank’s payout ratio is 44.53%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Claro Advisors LLC lifted its holdings in shares of Toronto-Dominion Bank by 0.6% during the 3rd quarter. Claro Advisors LLC now owns 30,845 shares of the bank’s stock valued at $1,797,000 after buying an additional 196 shares during the period. Valmark Advisers Inc. boosted its position in Toronto-Dominion Bank by 3.5% in the third quarter. Valmark Advisers Inc. now owns 5,764 shares of the bank’s stock worth $336,000 after purchasing an additional 197 shares during the last quarter. Norway Savings Bank boosted its position in Toronto-Dominion Bank by 13.5% in the third quarter. Norway Savings Bank now owns 1,679 shares of the bank’s stock worth $98,000 after purchasing an additional 200 shares during the last quarter. Compagnie Lombard Odier SCmA grew its stake in shares of Toronto-Dominion Bank by 8.6% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,714 shares of the bank’s stock valued at $158,000 after purchasing an additional 214 shares during the period. Finally, First Financial Corp IN grew its stake in shares of Toronto-Dominion Bank by 16.1% during the 3rd quarter. First Financial Corp IN now owns 1,561 shares of the bank’s stock valued at $91,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 47.39% of the company’s stock.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

Featured Article: Quick Ratio

Analyst Recommendations for Toronto-Dominion Bank (NYSE:TD)

Receive News & Ratings for Toronto-Dominion Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toronto-Dominion Bank and related companies with MarketBeat.com's FREE daily email newsletter.