Toronto-Dominion Bank (NYSE:TD) Lowered to “Neutral” at CIBC

CIBC cut shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) from a sector outperform rating to a neutral rating in a research report sent to investors on Thursday morning, Briefing.com Automated Import reports. The firm currently has $82.00 target price on the bank’s stock.

A number of other analysts have also weighed in on TD. National Bank Financial set a $84.00 target price on shares of Toronto-Dominion Bank and gave the stock a buy rating in a research note on Friday, August 30th. Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a sell rating to a hold rating in a research note on Wednesday. CSFB lowered shares of Toronto-Dominion Bank from an outperform rating to a neutral rating and dropped their price target for the company from $76.00 to $74.00 in a research note on Monday, October 28th. Royal Bank of Canada reiterated a hold rating and issued a $80.00 price target on shares of Toronto-Dominion Bank in a research note on Monday, October 7th. Finally, BMO Capital Markets lowered shares of Toronto-Dominion Bank from an outperform rating to a market perform rating and dropped their price target for the company from $85.00 to $78.00 in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $78.27.

Shares of TD stock traded down $0.18 during trading hours on Thursday, reaching $57.96. 991,207 shares of the stock were exchanged, compared to its average volume of 1,190,175. The business’s fifty day moving average is $56.89 and its two-hundred day moving average is $56.72. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. Toronto-Dominion Bank has a 12-month low of $47.73 and a 12-month high of $59.55. The firm has a market capitalization of $105.81 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.94 and a beta of 1.06.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 29th. The bank reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.45. Toronto-Dominion Bank had a net margin of 20.02% and a return on equity of 16.08%. The firm had revenue of $10.50 billion for the quarter, compared to analyst estimates of $9.80 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Toronto-Dominion Bank will post 5.18 earnings per share for the current fiscal year.

The business also recently declared a — dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a $0.556 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a yield of 4.1%. Toronto-Dominion Bank’s dividend payout ratio is currently 44.53%.

Several hedge funds have recently bought and sold shares of TD. Beutel Goodman & Co Ltd. boosted its holdings in shares of Toronto-Dominion Bank by 99.5% in the second quarter. Beutel Goodman & Co Ltd. now owns 45,627,230 shares of the bank’s stock valued at $2,570,815,000 after acquiring an additional 22,761,407 shares during the period. National Pension Service acquired a new stake in shares of Toronto-Dominion Bank in the second quarter valued at approximately $147,598,000. JPMorgan Chase & Co. boosted its holdings in shares of Toronto-Dominion Bank by 32.4% in the second quarter. JPMorgan Chase & Co. now owns 7,086,927 shares of the bank’s stock valued at $411,749,000 after acquiring an additional 1,733,269 shares during the period. State of Tennessee Treasury Department acquired a new stake in shares of Toronto-Dominion Bank in the third quarter valued at approximately $107,356,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Toronto-Dominion Bank by 2.5% in the second quarter. Vanguard Group Inc. now owns 52,502,160 shares of the bank’s stock valued at $3,064,025,000 after acquiring an additional 1,293,179 shares during the period. 48.39% of the stock is owned by institutional investors and hedge funds.

About Toronto-Dominion Bank

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.

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

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