Toronto-Dominion Bank (TSE:TD) Hits New 12-Month High – Here’s What Happened

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) shares reached a new 52-week high on Monday . The company traded as high as C$159.35 and last traded at C$158.99, with a volume of 185834 shares. The stock had previously closed at C$157.74.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TD shares. Barclays upped their price target on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the company an “underweight” rating in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce upped their target price on Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Desjardins raised their target price on Toronto-Dominion Bank from C$154.00 to C$160.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Scotiabank boosted their price target on shares of Toronto-Dominion Bank from C$150.00 to C$165.00 and gave the company a “sector outperform” rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada cut their price objective on shares of Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$149.75.

Toronto-Dominion Bank Price Performance

The company has a market cap of C$262.71 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.22 and a beta of 0.92. The firm has a 50 day simple moving average of C$144.86 and a 200-day simple moving average of C$133.85.

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

Toronto-Dominion Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th were given a $1.08 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a yield of 2.7%. Toronto-Dominion Bank’s dividend payout ratio is presently 50.00%.

Insiders Place Their Bets

In other Toronto-Dominion Bank news, insider Kelvin Vi Luan Tran sold 8,498 shares of Toronto-Dominion Bank 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 completion of the sale, the insider directly owned 26,677 shares in the company, valued at C$4,177,884.97. This trade represents a 24.16% decrease in their ownership of the stock. 0.08% of the stock is currently owned by company 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.