CIBC Lowers Toronto-Dominion Bank (TSE:TD) Price Target to C$94.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price target lowered by CIBC from C$95.00 to C$94.00 in a research note published on Thursday,BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on the company. UBS Group increased their price objective on Toronto-Dominion Bank from C$83.00 to C$90.00 in a research report on Friday, February 14th. National Bankshares set a C$80.00 price objective on Toronto-Dominion Bank and gave the stock a “sector perform” rating in a research report on Thursday. Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$90.00 to C$99.00 in a research report on Tuesday, February 18th. Finally, Scotiabank upgraded Toronto-Dominion Bank to a “hold” rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average price target of C$88.67.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at C$92.81 on Thursday. Toronto-Dominion Bank has a 52-week low of C$73.22 and a 52-week high of C$93.83. The company has a market capitalization of C$162.82 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82. The business’s fifty day moving average is C$85.86 and its 200 day moving average is C$82.34.

Toronto-Dominion Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 4.53%. Toronto-Dominion Bank’s payout ratio is 80.84%.

Insider Buying and Selling at Toronto-Dominion Bank

In related news, Director Ajay Kumar Virmani acquired 24,636 shares of Toronto-Dominion Bank stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average cost of C$81.22 per share, with a total value of C$2,000,935.92. Also, Director Theresa Lynn Currie sold 45,172 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of C$86.50, for a total value of C$3,907,378.00. Following the transaction, the director now directly owns 163 shares in the company, valued at C$14,099.50. This trade represents a 99.64% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

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.