Toronto-Dominion Bank (TSE:TD) Stock Price Expected to Rise, Desjardins Analyst Says

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective lifted by equities research analysts at Desjardins from C$160.00 to C$183.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target indicates a potential upside of 7.48% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Raymond James Financial increased their price objective on shares of Toronto-Dominion Bank from C$152.50 to C$155.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Canaccord Genuity Group increased their price target on Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Barclays lifted their price objective on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the company an “underweight” rating in a research note on Friday, May 29th. Jefferies Financial Group upped their target price on Toronto-Dominion Bank from C$134.00 to C$142.00 in a research note on Wednesday, May 20th. Finally, Scotiabank lifted their price target on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Moderate Buy” and an average target price of C$153.33.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock traded up C$2.36 during trading hours on Wednesday, hitting C$170.26. 1,231,626 shares of the stock traded hands, compared to its average volume of 5,750,156. The firm’s 50 day moving average price is C$166.72 and its 200-day moving average price is C$146.87. The stock has a market capitalization of C$281.28 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.22 and a beta of 0.89. Toronto-Dominion Bank has a 1 year low of C$100.01 and a 1 year high of C$175.33.

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

Insider Buying and Selling

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

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.