Toronto-Dominion Bank (TSE:TD) Sets New 12-Month High – Here’s Why

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) reached a new 52-week high on Wednesday . The company traded as high as C$137.77 and last traded at C$137.21, with a volume of 5774663 shares traded. The stock had previously closed at C$134.86.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank Of Canada reduced their price target on Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. National Bank Financial upped their price objective on shares of Toronto-Dominion Bank from C$138.00 to C$146.00 and gave the company an “outperform” rating in a report on Friday, February 27th. BMO Capital Markets raised their price objective on shares of Toronto-Dominion Bank from C$135.00 to C$144.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Desjardins lifted their target price on shares of Toronto-Dominion Bank from C$139.00 to C$145.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Canaccord Genuity Group boosted their target price on shares of Toronto-Dominion Bank from C$147.00 to C$149.00 and gave the company a “buy” rating in a report on Monday, March 9th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of “Moderate Buy” and an average target price of C$139.00.

Toronto-Dominion Bank Stock Performance

The stock’s 50-day moving average is C$131.10 and its two-hundred day moving average is C$123.85. The stock has a market cap of C$230.20 billion, a PE ratio of 11.17, a PEG ratio of 1.22 and a beta of 0.86.

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

Toronto-Dominion Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto-Dominion Bank’s payout ratio is currently 34.25%.

About Toronto-Dominion Bank

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.