Toronto-Dominion Bank (TSE:TD) Reaches New 12-Month High on Analyst Upgrade

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) shares reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from C$100.00 to C$114.00. Barclays currently has an underweight rating on the stock. Toronto-Dominion Bank traded as high as C$116.62 and last traded at C$116.38, with a volume of 1245796 shares traded. The stock had previously closed at C$115.59.

A number of other research analysts have also recently commented on the stock. Desjardins boosted their target price on shares of Toronto-Dominion Bank from C$107.00 to C$110.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. National Bankshares set a C$100.00 price target on shares of Toronto-Dominion Bank and gave the stock a “sector perform” rating in a research note on Monday, September 22nd. Royal Bank Of Canada upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “moderate buy” rating and boosted their price objective for the stock from C$93.00 to C$120.00 in a report on Friday, October 3rd. Canaccord Genuity Group raised their target price on Toronto-Dominion Bank from C$113.00 to C$119.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Finally, Jefferies Financial Group lifted their target price on Toronto-Dominion Bank from C$120.00 to C$124.00 in a research report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average price target of C$108.58.

Insiders Place Their Bets

In related news, Director Nathalie Palladitcheff bought 1,000 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were acquired at an average price of C$112.64 per share, for a total transaction of C$112,640.00. Following the purchase, the director 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 39,376 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of C$112.07, for a total transaction of C$4,412,868.32. Insiders have sold a total of 84,384 shares of company stock worth $9,456,915 over the last quarter. 0.08% of the stock is currently owned by insiders.

Toronto-Dominion Bank Stock Performance

The company’s fifty day moving average price is C$112.31 and its 200 day moving average price is C$103.66. The firm has a market capitalization of C$199.25 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96.

Toronto-Dominion Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 31st were issued a $1.05 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $4.20 annualized dividend and a dividend yield of 3.6%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 35.70%.

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.