Toronto-Dominion Bank (TSE:TD) Price Target Raised to C$184.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price target lifted by Canadian Imperial Bank of Commerce from C$164.00 to C$184.00 in a research note released on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce currently has a neutral rating on the stock.

A number of other research firms have also weighed in on TD. Canaccord Genuity Group raised 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 report on Tuesday, July 7th. Barclays boosted their target price on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the stock an “underweight” rating in a report on Friday, May 29th. Scotiabank increased 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. 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. Finally, Desjardins raised their price target on Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$164.15.

Toronto-Dominion Bank Price Performance

TSE:TD opened at C$161.24 on Wednesday. The firm has a market capitalization of C$266.38 billion, a P/E ratio of 18.92, a PEG ratio of 1.22 and a beta of 0.88. Toronto-Dominion Bank has a one year low of C$100.01 and a one year high of C$175.33. The company’s 50-day simple moving average is C$169.43 and its 200 day simple moving average is C$150.31.

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

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 31st were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, July 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. Toronto-Dominion Bank’s dividend payout ratio is 50.00%.

Insider Transactions at Toronto-Dominion Bank

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