Toronto-Dominion Bank (TSE:TD) Reaches New 52-Week High – Here’s Why

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s stock price hit a new 52-week high on Monday . The company traded as high as C$157.16 and last traded at C$156.93, with a volume of 149084 shares traded. The stock had previously closed at C$153.15.

Analysts Set New Price Targets

Several research firms have recently commented on TD. Raymond James Financial upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “moderate buy” rating and raised their target price for the stock from C$141.00 to C$152.50 in a research note on Tuesday, May 12th. BMO Capital Markets raised their target price on shares of Toronto-Dominion Bank from C$135.00 to C$144.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Royal Bank Of Canada cut their price objective on 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. Canaccord Genuity Group lifted their price target on shares of Toronto-Dominion Bank from C$149.00 to C$158.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Barclays lifted their price target on shares of Toronto-Dominion Bank from C$133.00 to C$135.00 in a report on Friday, February 27th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Moderate Buy” and a consensus price target of C$144.96.

Toronto-Dominion Bank Stock Performance

The company has a market cap of C$259.40 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92. The stock’s fifty day simple moving average is C$140.51 and its two-hundred day simple moving average is C$131.48.

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

Toronto-Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, April 9th. Toronto-Dominion Bank’s payout ratio is currently 34.25%.

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.