The Toronto-Dominion Bank (TSE:TD) Receives C$151.42 Average Target Price from Brokerages

Shares of The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) have been given an average rating of “Moderate Buy” by the ten research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$151.42.

Several research firms have recently weighed in on TD. Scotiabank raised their price objective on shares of 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. Raymond James Financial boosted their target price on shares of Toronto-Dominion Bank from C$152.50 to C$155.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. National Bank Financial increased their target price on shares of Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Barclays increased their target price on shares of 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. Finally, Canaccord Genuity Group raised their target price on shares of Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th.

Insider Buying and Selling at Toronto-Dominion Bank

In other news, insider Kelvin Vi Luan Tran sold 8,498 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was 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 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 on Thursday, June 11th. The stock was sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the completion of the transaction, the insider owned 260 shares in the company, valued at C$41,917.20. The trade was a 99.07% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock opened at C$169.00 on Friday. The business has a fifty day simple moving average of C$164.56 and a 200-day simple moving average of C$145.04. Toronto-Dominion Bank has a fifty-two week low of C$99.51 and a fifty-two week high of C$175.33. The firm has a market cap of C$279.20 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its earnings results on Thursday, May 28th. The company reported C$2.38 earnings per share (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 for the quarter. Analysts anticipate that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 31st will be given a dividend of $1.12 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.7%. Toronto-Dominion Bank’s payout ratio is currently 50.00%.

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.