National Bank Financial upgraded shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from a sector perform overweight rating to an outperform overweight rating in a report issued on Sunday, Zacks.com reports.
Other analysts have also recently issued research reports about the stock. Eight Capital cut their price target on shares of Toronto-Dominion Bank from C$90.00 to C$85.00 in a report on Wednesday, August 14th. BMO Capital Markets boosted their target price on shares of Toronto-Dominion Bank from C$82.00 to C$85.00 in a report on Friday, May 24th. Barclays upgraded shares of Toronto-Dominion Bank from an underweight rating to an overweight rating and boosted their target price for the company from C$79.00 to C$84.00 in a report on Tuesday, June 11th. Canaccord Genuity dropped their target price on shares of Toronto-Dominion Bank from C$84.00 to C$82.00 in a report on Wednesday, May 15th. Finally, CSFB set a C$81.00 target price on shares of Toronto-Dominion Bank and gave the company an outperform rating in a report on Thursday, May 16th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of C$84.67.
TSE:TD opened at C$72.13 on Friday. The stock has a market cap of $133.77 billion and a P/E ratio of 11.63. The firm’s fifty day simple moving average is C$75.84 and its 200 day simple moving average is C$75.31. Toronto-Dominion Bank has a twelve month low of C$65.56 and a twelve month high of C$80.05.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 47.73%.
In other news, Senior Officer Frank Joseph Mckenna sold 20,000 shares of Toronto-Dominion Bank stock in a transaction dated Monday, June 17th. The stock was sold at an average price of C$76.14, for a total value of C$1,522,800.00. Also, Senior Officer Riaz Ahmed sold 67,008 shares of Toronto-Dominion Bank stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of C$75.52, for a total value of C$5,060,444.16. Following the completion of the transaction, the insider now directly owns 351,232 shares of the company’s stock, valued at approximately C$26,525,040.64.
Toronto-Dominion Bank Company Profile
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.
Further Reading: Rule of 72
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