Toronto-Dominion Bank (TSE:TD) Price Target Raised to C$164.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its target price raised by Barclays from C$140.00 to C$164.00 in a research report report published on Friday morning,BayStreet.CA reports.

A number of other research firms have also commented on TD. Canadian Imperial Bank of Commerce boosted their price target on shares of Toronto-Dominion Bank from C$164.00 to C$184.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Canaccord Genuity Group lifted their price objective on Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Raymond James Financial boosted their target price on Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Scotiabank upped their target price on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, June 16th. Finally, Jefferies Financial Group raised their price target on Toronto-Dominion Bank from C$151.00 to C$159.00 in a report on Thursday, August 13th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$164.15.

Toronto-Dominion Bank Stock Performance

Shares of TSE:TD opened at C$161.24 on Friday. Toronto-Dominion Bank has a 52 week low of C$100.01 and a 52 week high of C$175.33. The firm’s fifty day moving average is C$169.43 and its 200-day moving average is C$150.46. The firm has a market cap of C$266.38 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.22 and a beta of 0.88.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last announced its quarterly earnings data on Thursday, May 28th. The company reported C$2.38 earnings per share (EPS) for the quarter. The company had revenue of C$16.04 billion for the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%. Sell-side analysts forecast that Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 31st were paid a $1.12 dividend. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, July 10th. Toronto-Dominion Bank’s payout ratio is currently 50.00%.

Insider Buying and Selling

In other news, insider Kelvin Vi Luan Tran sold 8,498 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the completion of the sale, the insider owned 26,677 shares of the company’s stock, valued at approximately C$4,177,884.97. This represents a 24.16% decrease in their position. Also, insider Paul Martyn Clark sold 27,649 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$161.22, for a total transaction of C$4,457,571.78. Following the transaction, the insider directly owned 260 shares in the company, valued at approximately C$41,917.20. This represents a 99.07% decrease in their position. 0.08% of the stock is owned by company insiders.

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.