Toronto-Dominion Bank (TSE:TD) Cut to “Hold” at Desjardins

Desjardins cut shares of Toronto-Dominion Bank (TSE:TD) (NYSE:TD) from a moderate buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

TD has been the subject of a number of other reports. National Bank Financial upgraded Toronto-Dominion Bank from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Canaccord Genuity Group decreased their price objective on Toronto-Dominion Bank from C$89.00 to C$87.00 in a research note on Friday. Scotiabank cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$98.00 to C$81.00 in a research note on Friday. Jefferies Financial Group increased their price target on Toronto-Dominion Bank from C$73.00 to C$82.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Cormark decreased their price target on Toronto-Dominion Bank from C$99.00 to C$94.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank presently has an average rating of “Hold” and an average price target of C$86.00.

Toronto-Dominion Bank Price Performance

Shares of TSE TD opened at C$73.51 on Thursday. The stock has a market capitalization of C$128.64 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82. Toronto-Dominion Bank has a 1-year low of C$73.22 and a 1-year high of C$87.99. The business has a fifty day moving average price of C$80.01 and a 200 day moving average price of C$79.19.

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 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.