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

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

Several other analysts have also commented on the stock. Bank of America lowered their price objective on shares of Toronto-Dominion Bank from C$88.00 to C$86.00 in a report on Wednesday, February 14th. Scotiabank raised Toronto-Dominion Bank from a sector perform rating to an outperform rating and upped their price objective for the company from C$86.00 to C$93.00 in a research report on Wednesday, April 17th. Canaccord Genuity Group upped their price target on Toronto-Dominion Bank from C$95.00 to C$96.00 and gave the company a buy rating in a report on Friday, March 1st. Desjardins decreased their target price on shares of Toronto-Dominion Bank from C$104.00 to C$93.00 and set a buy rating for the company in a research note on Monday. Finally, Jefferies Financial Group decreased their price target on shares of Toronto-Dominion Bank from C$82.00 to C$74.00 and set a hold rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of C$89.23.

Toronto-Dominion Bank Stock Performance

Shares of TSE TD opened at C$76.76 on Monday. The stock has a fifty day moving average of C$80.21 and a 200-day moving average of C$81.30. The stock has a market cap of C$135.87 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. Toronto-Dominion Bank has a fifty-two week low of C$73.98 and a fifty-two week high of C$87.10.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last announced its earnings results on Thursday, February 29th. The company reported C$2.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of C$13.71 billion during the quarter, compared to analyst estimates of C$12.63 billion. On average, sell-side analysts predict that Toronto-Dominion Bank will post 7.8654048 EPS for the current year.

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 30th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 5.32%. The ex-dividend date was Monday, April 8th. Toronto-Dominion Bank’s payout ratio is 64.45%.

About Toronto-Dominion Bank

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.