Toronto-Dominion Bank (TSE:TD) Hits New 12-Month Low After Analyst Downgrade

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) hit a new 52-week low during trading on Friday after National Bankshares lowered their price target on the stock from C$92.00 to C$84.00. National Bankshares currently has a sector perform rating on the stock. Toronto-Dominion Bank traded as low as C$75.57 and last traded at C$75.62, with a volume of 7113834 shares trading hands. The stock had previously closed at C$79.44.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group raised their price target on shares of Toronto-Dominion Bank from C$95.00 to C$96.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Desjardins reduced their target price on shares of Toronto-Dominion Bank from C$96.00 to C$94.00 and set a “buy” rating for the company in a report on Wednesday, February 7th. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$86.00 to C$93.00 in a research report on Wednesday, April 17th. Bank of America cut their target price on shares of Toronto-Dominion Bank from C$88.00 to C$86.00 in a research note on Wednesday, February 14th. Finally, BMO Capital Markets boosted their price target on shares of Toronto-Dominion Bank from C$81.00 to C$86.00 in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of “Moderate Buy” and an average price target of C$90.48.

Toronto-Dominion Bank Stock Down 5.8 %

The firm has a market cap of C$132.40 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The stock has a 50 day moving average price of C$80.63 and a two-hundred day moving average price of C$81.43.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$2.00 earnings per share for the quarter, topping 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 company had revenue of C$13.71 billion for the quarter, compared to the consensus estimate of C$12.63 billion. As a group, equities analysts anticipate that The Toronto-Dominion Bank will post 7.8683417 earnings per share for the current year.

Toronto-Dominion Bank Announces Dividend

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 $1.02 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $4.08 dividend on an annualized basis and a yield of 5.45%. Toronto-Dominion Bank’s payout ratio is 64.45%.

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.