Toronto-Dominion Bank (TSE:TD) Hits New 1-Year High – Should You Buy?

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s stock price hit a new 52-week high on Thursday. The company traded as high as C$175.40 and last traded at C$175.31, with a volume of 1,136,038 shares traded. The stock had previously closed at C$175.11.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Raymond James Financial raised their target price on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Jefferies Financial Group increased their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$165.00 in a report on Thursday, September 3rd. Scotiabank raised their price objective on Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the company a “sector outperform” rating in a research report on Friday, August 28th. Canaccord Genuity Group reduced their target price on Toronto-Dominion Bank from C$197.00 to C$196.00 in a report on Thursday, September 3rd. Finally, National Bank Financial lifted their target price on Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the stock an “outperform” rating in a report on Sunday, August 30th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Moderate Buy” and an average price target of C$171.08.

Toronto-Dominion Bank Stock Down 0.4%

The business’s fifty day moving average is C$168.08 and its two-hundred day moving average is C$162.14. The stock has a market capitalization of C$284.91 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share (EPS) for the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. The company had revenue of C$16.93 billion for the quarter. Sell-side analysts expect that The Toronto-Dominion Bank will post 7.22 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Saturday, October 31st will be issued a $1.12 dividend. The ex-dividend date is Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.6%. Toronto-Dominion Bank’s payout ratio is 46.36%.

Insider Activity

In related news, insider Kelvin Vi Luan Tran sold 8,000 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of C$172.92, for a total value of C$1,383,360.00. Following the completion of the transaction, the insider owned 23,877 shares of the company’s stock, valued at approximately C$4,128,810.84. This trade represents a 25.10% decrease in their position. Corporate insiders own 0.08% of the company’s stock.

About Toronto-Dominion Bank

TD Asset Management Inc (‘TDAM’), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.