Toronto-Dominion Bank (TSE:TD) Reaches New 52-Week High – Here’s Why

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$157.16 and last traded at C$156.93, with a volume of 149084 shares. The stock had previously closed at C$153.15.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Barclays lifted their target price on Toronto-Dominion Bank from C$133.00 to C$135.00 in a research note on Friday, February 27th. Canaccord Genuity Group raised their target price on shares of Toronto-Dominion Bank from C$149.00 to C$158.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from C$142.00 to C$150.00 in a research report on Monday, May 4th. BMO Capital Markets upped their price target on shares of Toronto-Dominion Bank from C$135.00 to C$144.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Finally, Jefferies Financial Group raised their price target on shares of Toronto-Dominion Bank from C$134.00 to C$142.00 in a report on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$144.96.

Toronto-Dominion Bank Price Performance

The stock has a fifty day moving average of C$139.39 and a 200 day moving average of C$130.88. The stock has a market cap of C$260.97 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.22 and a beta of 0.92.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its quarterly earnings results on Thursday, February 26th. The company reported C$2.44 earnings per share for the quarter. Toronto-Dominion Bank had a net margin of 19.11% and a return on equity of 17.26%. The company had revenue of C$16.63 billion for the quarter. As a group, equities analysts expect that The Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Toronto-Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th were paid a $1.08 dividend. The ex-dividend date was Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.8%. Toronto-Dominion Bank’s dividend payout ratio is presently 34.25%.

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.