Royal Bank of Canada Issues Positive Forecast for Toronto-Dominion Bank (TSE:TD) Stock Price

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its target price hoisted by Royal Bank of Canada from C$77.00 to C$86.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other brokerages also recently weighed in on TD. Canaccord Genuity Group upped their price objective on shares of Toronto-Dominion Bank from C$87.00 to C$89.00 in a research report on Monday, December 16th. National Bankshares lowered their target price on shares of Toronto-Dominion Bank from C$85.00 to C$80.00 in a research note on Friday, December 6th. Desjardins lowered Toronto-Dominion Bank from a “moderate buy” rating to a “hold” rating in a research note on Thursday, December 5th. CIBC cut their target price on Toronto-Dominion Bank from C$93.00 to C$90.00 in a research note on Friday, December 6th. Finally, Cormark decreased their price objective on shares of Toronto-Dominion Bank from C$99.00 to C$94.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus target price of C$86.83.

Toronto-Dominion Bank Trading Down 0.7 %

Toronto-Dominion Bank stock opened at C$77.92 on Wednesday. The firm has a market cap of C$136.36 billion, a PE ratio of 18.04, a P/E/G ratio of 1.22 and a beta of 0.82. The stock’s 50 day simple moving average is C$77.31 and its two-hundred day simple moving average is C$79.23. Toronto-Dominion Bank has a 12 month low of C$73.22 and a 12 month high of C$87.99.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 31st will be issued a $1.05 dividend. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $1.02. This represents a $4.20 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, January 10th. Toronto-Dominion Bank’s payout ratio is presently 94.44%.

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.