Scotiabank Cuts Toronto-Dominion Bank (NYSE:TD) Price Target to C$105.00

Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) had its price objective lowered by equities researchers at Scotiabank from C$116.00 to C$105.00 in a report issued on Wednesday, The Fly reports.

A number of other research firms have also recently weighed in on TD. Stifel Nicolaus lowered their target price on shares of Toronto-Dominion Bank from C$105.00 to C$104.00 in a research note on Friday, April 8th. CIBC cut shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a research note on Monday. Desjardins upped their price objective on shares of Toronto-Dominion Bank from C$110.00 to C$113.00 in a research note on Monday, March 7th. National Bank Financial cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 7th. Finally, StockNews.com began coverage on shares of Toronto-Dominion Bank in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average target price of $101.38.

Shares of TD opened at $74.50 on Wednesday. The company has a 50-day simple moving average of $80.17 and a 200-day simple moving average of $76.61. The firm has a market capitalization of $134.50 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94. Toronto-Dominion Bank has a 52 week low of $62.81 and a 52 week high of $86.01.

Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) last announced its quarterly earnings data on Thursday, March 3rd. The bank reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.03. The business had revenue of $11.28 billion during the quarter, compared to analyst estimates of $10.28 billion. Toronto-Dominion Bank had a net margin of 30.57% and a return on equity of 16.18%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. As a group, equities analysts forecast that Toronto-Dominion Bank will post 6.39 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors raised its holdings in Toronto-Dominion Bank by 6.5% in the fourth quarter. Capital Research Global Investors now owns 50,022,490 shares of the bank’s stock worth $3,835,082,000 after purchasing an additional 3,059,059 shares during the period. Norges Bank acquired a new stake in Toronto-Dominion Bank in the fourth quarter worth $1,698,122,000. The Manufacturers Life Insurance Company raised its holdings in Toronto-Dominion Bank by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 16,835,940 shares of the bank’s stock worth $1,411,693,000 after purchasing an additional 537,054 shares during the period. Schroder Investment Management Group increased its position in shares of Toronto-Dominion Bank by 413.8% during the fourth quarter. Schroder Investment Management Group now owns 13,351,504 shares of the bank’s stock worth $1,294,830,000 after acquiring an additional 10,753,156 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Toronto-Dominion Bank by 4.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,427,653 shares of the bank’s stock worth $799,593,000 after acquiring an additional 415,805 shares in the last quarter. Institutional investors own 48.46% of the company’s stock.

About Toronto-Dominion Bank (Get Rating)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.

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