Royal Bank of Canada Forecasts Strong Price Appreciation for Toronto-Dominion Bank (TSE:TD) Stock

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

TD has been the topic of a number of other research reports. Scotiabank lowered Toronto-Dominion Bank from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from C$98.00 to C$81.00 in a research report on Friday, December 6th. National Bankshares decreased their target price on shares of Toronto-Dominion Bank from C$85.00 to C$80.00 in a research report on Friday, December 6th. Desjardins downgraded shares of Toronto-Dominion Bank from a "moderate buy" rating to a "hold" rating in a research report on Thursday, December 5th. Cormark reduced their price objective on shares of Toronto-Dominion Bank from C$99.00 to C$94.00 in a research note on Friday, December 6th. Finally, Canaccord Genuity Group lifted their target price on shares of Toronto-Dominion Bank from C$87.00 to C$89.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$86.83.

Toronto-Dominion Bank Stock Performance

Shares of TSE:TD traded down C$0.56 during mid-day trading on Wednesday, reaching C$77.92. 23,749,555 shares of the company's stock were exchanged, compared to its average volume of 20,912,508. Toronto-Dominion Bank has a twelve month low of C$73.22 and a twelve month high of C$87.99. The firm has a market capitalization of C$136.36 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.22 and a beta of 0.82. The business's fifty day moving average price is C$77.32 and its 200-day moving average price is C$79.20.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 31st will be issued a $1.05 dividend. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $1.02. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, January 10th. 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.