Toronto-Dominion Bank (TSE:TD) Downgraded by Royal Bank of Canada to “Sector Perform”

Royal Bank of Canada downgraded shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from an outperform rating to a sector perform rating in a report issued on Friday, Marketbeat reports. The firm currently has C$82.00 price objective on the stock, down from their previous price objective of C$88.00.

TD has been the subject of several other reports. Scotiabank reduced their price objective on Toronto-Dominion Bank from C$87.00 to C$86.00 in a report on Monday, August 19th. Bank of America increased their price target on Toronto-Dominion Bank from C$85.00 to C$90.00 in a research note on Friday, August 23rd. National Bankshares upgraded Toronto-Dominion Bank from an underperform rating to a sector perform rating and boosted their price objective for the company from C$74.00 to C$78.00 in a research note on Friday, August 23rd. UBS Group set a C$82.00 target price on shares of Toronto-Dominion Bank and gave the stock a neutral rating in a research report on Tuesday, July 2nd. Finally, Cormark reduced their target price on shares of Toronto-Dominion Bank from C$87.00 to C$86.00 in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank has a consensus rating of Moderate Buy and an average price target of C$86.65.

Toronto-Dominion Bank Price Performance

TSE TD opened at C$78.48 on Friday. The company has a fifty day moving average price of C$82.46 and a 200-day moving average price of C$79.40. Toronto-Dominion Bank has a 1 year low of C$73.67 and a 1 year high of C$87.99. The firm has a market cap of C$137.34 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.08 and a beta of 0.82.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its earnings results on Thursday, August 22nd. The company reported C$2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.07 by C($0.02). The business had revenue of C$14.18 billion during the quarter, compared to the consensus estimate of C$14.12 billion. Toronto-Dominion Bank had a net margin of 15.72% and a return on equity of 7.33%. On average, research analysts anticipate that Toronto-Dominion Bank will post 8.2112811 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.20%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 94.44%.

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.