Eight Capital Trims Toronto-Dominion Bank (TSE:TD) Target Price to C$85.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective cut by Eight Capital from C$90.00 to C$85.00 in a research report released on Wednesday, BayStreet.CA reports.

TD has been the subject of a number of other research reports. CSFB set a C$81.00 price target on Toronto-Dominion Bank and gave the stock an outperform rating in a research report on Thursday, May 16th. Canaccord Genuity reduced their price target on Toronto-Dominion Bank from C$84.00 to C$82.00 in a research report on Wednesday, May 15th. Desjardins upped their price target on Toronto-Dominion Bank from C$82.00 to C$83.00 in a research report on Tuesday, May 14th. BMO Capital Markets upped their price target on Toronto-Dominion Bank from C$82.00 to C$85.00 in a research report on Friday, May 24th. Finally, National Bank Financial upped their price target on Toronto-Dominion Bank from C$83.00 to C$85.00 and gave the stock an outperform rating in a research report on Friday, May 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of C$84.67.

Shares of TD opened at C$72.52 on Wednesday. The stock has a 50 day simple moving average of C$76.15 and a 200 day simple moving average of C$75.36. Toronto-Dominion Bank has a 52-week low of C$65.56 and a 52-week high of C$80.05. The firm has a market capitalization of $132.67 billion and a PE ratio of 11.69.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its quarterly earnings results on Thursday, May 23rd. The company reported C$1.75 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.67 by C$0.08. The firm had revenue of C$10.23 billion for the quarter, compared to analyst estimates of C$9.68 billion. As a group, research analysts anticipate that Toronto-Dominion Bank will post 7.3400004 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio is currently 44.34%.

In other news, Senior Officer Riaz Ahmed sold 67,008 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of C$75.52, for a total transaction of C$5,060,444.16. Following the sale, the insider now owns 351,232 shares in the company, valued at approximately C$26,525,040.64. Also, Senior Officer Frank Joseph Mckenna sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of C$76.14, for a total value of C$1,522,800.00.

Toronto-Dominion Bank Company Profile

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.

Further Reading: What is the Ex-Dividend Date in Investing?

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

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