Natl Bk Canada Upgrades Toronto-Dominion Bank (TSE:TD) to Strong-Buy

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) was upgraded by stock analysts at Natl Bk Canada from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Desjardins lifted their target price on Toronto-Dominion Bank from C$126.00 to C$133.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America increased their price objective on Toronto-Dominion Bank from C$130.00 to C$132.00 in a research report on Friday, December 5th. UBS Group lifted their price objective on Toronto-Dominion Bank from C$122.00 to C$126.00 in a report on Monday, December 8th. Barclays upped their target price on shares of Toronto-Dominion Bank from C$114.00 to C$118.00 and gave the company an “underweight” rating in a research note on Friday, December 5th. Finally, Scotiabank raised their price target on shares of Toronto-Dominion Bank from C$114.00 to C$125.00 and gave the company a “sector perform” rating in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank has a consensus rating of “Moderate Buy” and a consensus target price of C$128.17.

Toronto-Dominion Bank Stock Performance

Shares of TSE TD opened at C$127.49 on Wednesday. The firm’s 50 day moving average price is C$116.59 and its 200-day moving average price is C$107.48. The company has a market cap of C$223.34 billion, a PE ratio of 11.03, a P/E/G ratio of 1.22 and a beta of 0.98. Toronto-Dominion Bank has a 52-week low of C$73.73 and a 52-week high of C$128.24.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last announced its quarterly earnings results on Thursday, December 4th. The company reported C$2.18 earnings per share for the quarter. Toronto-Dominion Bank had a net margin of 15.80% and a return on equity of 7.84%. The company had revenue of C$16.03 billion during the quarter. On average, analysts forecast that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Insider Transactions at Toronto-Dominion Bank

In other news, Director Nathalie Palladitcheff purchased 1,000 shares of the business’s stock in a transaction on Monday, October 6th. The stock was acquired at an average cost of C$112.64 per share, for a total transaction of C$112,640.00. Following the purchase, the director directly owned 3,292 shares in the company, valued at C$370,810.88. This trade represents a 43.63% increase in their position. Also, insider Ajai Bambawale sold 7,328 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of C$112.07, for a total transaction of C$821,248.96. Following the sale, the insider directly owned 800 shares of the company’s stock, valued at C$89,656. The trade was a 90.16% decrease in their position. Over the last 90 days, insiders have sold 84,384 shares of company stock valued at $9,456,915. Corporate insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Company Profile

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.