Scotiabank Issues Positive Forecast for Toronto-Dominion Bank (TSE:TD) Stock Price

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective hoisted by Scotiabank from C$114.00 to C$125.00 in a report published on Friday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other brokerages have also recently commented on TD. Jefferies Financial Group increased their price objective on shares of Toronto-Dominion Bank from C$125.00 to C$130.00 in a research note on Friday. Royal Bank Of Canada increased their price target on shares of Toronto-Dominion Bank from C$120.00 to C$128.00 in a research report on Friday. CIBC raised their price objective on shares of Toronto-Dominion Bank from C$112.00 to C$122.00 in a research note on Wednesday, November 19th. BMO Capital Markets lifted their price objective on Toronto-Dominion Bank from C$120.00 to C$128.00 in a research report on Friday. Finally, Desjardins upped their target price on Toronto-Dominion Bank from C$107.00 to C$110.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$120.00.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at C$122.20 on Friday. The stock has a fifty day moving average price of C$114.18 and a 200 day moving average price of C$105.45. The stock has a market cap of C$208.62 billion, a PE ratio of 10.46, a P/E/G ratio of 1.22 and a beta of 0.98. Toronto-Dominion Bank has a 1 year low of C$73.22 and a 1 year high of C$122.24.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its earnings results on Thursday, December 4th. The company reported C$2.18 earnings per share for the quarter. Toronto-Dominion Bank had a return on equity of 7.84% and a net margin of 15.80%.The company had revenue of C$16.03 billion for the quarter. As a group, equities research analysts predict that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 31st were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, October 10th. Toronto-Dominion Bank’s payout ratio is currently 35.70%.

Insider Activity at Toronto-Dominion Bank

In other news, Director Nathalie Palladitcheff bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were purchased at an average price of C$112.64 per share, for a total transaction of C$112,640.00. Following the completion of the transaction, the director owned 3,292 shares in the company, valued at C$370,810.88. The trade was a 43.63% increase in their ownership of the stock. Also, insider Ajai Bambawale sold 39,376 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of C$112.07, for a total value of C$4,412,868.32. Insiders have sold 84,384 shares of company stock worth $9,456,915 in the last three months. Insiders own 0.08% of the company’s stock.

About Toronto-Dominion Bank

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.