Toronto-Dominion Bank (TSE:TD) Reaches New 1-Year Low on Analyst Downgrade

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s stock price reached a new 52-week low 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 changing hands. The stock had previously closed at C$79.44.

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

Toronto-Dominion Bank Price Performance

The stock has a 50 day simple moving average of C$80.50 and a 200-day simple moving average of C$81.38. The firm has a market cap of C$132.40 billion, a PE ratio of 11.82, a PEG ratio of 1.08 and a beta of 0.83.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted 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 return on equity of 10.72% and a net margin of 23.86%. The firm had revenue of C$13.71 billion during the quarter, compared to analysts’ expectations of C$12.63 billion. As a group, equities analysts predict that The Toronto-Dominion Bank will post 7.8654048 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 30th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Monday, April 8th. Toronto-Dominion Bank’s dividend payout ratio is currently 64.45%.

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.