Toronto-Dominion Bank (TSE:TD) Price Target Raised to C$190.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its target price raised by Desjardins from C$183.00 to C$190.00 in a research report released on Wednesday morning,BayStreet reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. National Bank Financial increased their target price on shares of Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the stock an “outperform” rating in a research report on Sunday, August 30th. Scotiabank raised their target price on shares of Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the stock a “sector outperform” rating in a report on Friday, August 28th. Raymond James Financial lifted their price target on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Jefferies Financial Group boosted their price target on Toronto-Dominion Bank from C$164.00 to C$165.00 in a research note on Thursday, September 3rd. Finally, Canadian Imperial Bank of Commerce boosted their price target on Toronto-Dominion Bank from C$184.00 to C$188.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$171.62.

Toronto-Dominion Bank Stock Performance

TD opened at C$176.42 on Wednesday. Toronto-Dominion Bank has a fifty-two week low of C$112.53 and a fifty-two week high of C$179.80. The company has a market capitalization of C$288.10 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.22 and a beta of 0.79. The stock has a fifty day moving average of C$170.88 and a 200-day moving average of C$155.81.

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

Toronto-Dominion Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Saturday, October 31st were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, October 9th. Toronto-Dominion Bank’s payout ratio is 46.36%.

Insiders Place Their Bets

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

Toronto-Dominion Bank Company Profile

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.