Royal Bank of Canada Lowers Toronto-Dominion Bank (NYSE:TD) Price Target to $77.00

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) had its price objective trimmed by Royal Bank of Canada from $82.00 to $77.00 in a report issued on Friday,Benzinga reports. The firm currently has a sector perform rating on the bank’s stock.

TD has been the subject of several other reports. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Finally, Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $51.95 on Friday. The company’s fifty day moving average is $57.53 and its two-hundred day moving average is $57.67. The company has a market cap of $90.92 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82. Toronto-Dominion Bank has a 12-month low of $51.74 and a 12-month high of $65.12. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be paid a dividend of $0.7482 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.99 dividend on an annualized basis and a yield of 5.76%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 87.03%.

Institutional Investors Weigh In On Toronto-Dominion Bank

Several large investors have recently modified their holdings of TD. Wilmington Savings Fund Society FSB acquired a new stake in shares of Toronto-Dominion Bank in the 3rd quarter valued at $247,000. World Investment Advisors LLC acquired a new stake in shares of Toronto-Dominion Bank during the third quarter worth approximately $265,000. Tudor Financial Inc. bought a new position in shares of Toronto-Dominion Bank in the third quarter valued at approximately $268,000. Passumpsic Savings Bank boosted its holdings in shares of Toronto-Dominion Bank by 2.6% in the 3rd quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank’s stock worth $476,000 after acquiring an additional 194 shares in the last quarter. Finally, Main Line Retirement Advisors LLC grew its position in Toronto-Dominion Bank by 1.3% during the 3rd quarter. Main Line Retirement Advisors LLC now owns 24,180 shares of the bank’s stock worth $1,530,000 after acquiring an additional 314 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

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.