Toronto-Dominion Bank (TSE:TD) Rating Lowered to "Sector Perform" at Scotiabank

Scotiabank downgraded shares of Toronto-Dominion Bank (TSE:TD - Free Report) NYSE: TD from an outperform rating to a sector perform rating in a report published on Friday,BayStreet.CA reports. They currently have C$81.00 price objective on the stock, down from their prior price objective of C$98.00.

A number of other research analysts also recently weighed in on the stock. Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an "outperform" rating to a "sector perform" rating and cut their price target for the company from C$88.00 to C$82.00 in a report on Friday, October 11th. Canaccord Genuity Group cut their target price on Toronto-Dominion Bank from C$91.50 to C$89.00 in a report on Tuesday, November 19th. Bank of America boosted their price target on Toronto-Dominion Bank from C$85.00 to C$90.00 in a research report on Friday, August 23rd. National Bankshares raised Toronto-Dominion Bank from an "underperform" rating to a "sector perform" rating and increased their price objective for the company from C$74.00 to C$78.00 in a report on Friday, August 23rd. Finally, CIBC reduced their target price on Toronto-Dominion Bank from C$96.00 to C$93.00 in a report on Tuesday, November 26th. One 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of C$86.00.

Toronto-Dominion Bank Price Performance

TD traded down C$0.51 during midday trading on Friday, hitting C$73.51. 9,313,455 shares of the company's stock traded hands, compared to its average volume of 7,415,022. The company has a market cap of C$128.64 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82. The stock's fifty day simple moving average is C$80.01 and its 200-day simple moving average is C$79.19. Toronto-Dominion Bank has a one year low of C$73.22 and a one year high of C$87.99.

Toronto-Dominion Bank Announces Dividend

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