Canaccord Genuity Group Increases Toronto-Dominion Bank (TSE:TD) Price Target to C$185.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective raised by equities research analysts at Canaccord Genuity Group from C$169.00 to C$185.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 7.50% from the stock’s previous close.

TD has been the subject of several other research reports. National Bank Financial raised their target price on shares of Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Scotiabank upped their price target on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a report on Tuesday, June 16th. Desjardins increased their price objective on shares of Toronto-Dominion Bank from C$154.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Barclays raised their price objective on shares of Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the stock an “underweight” rating in a research note on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce boosted their target price on Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$151.42.

Toronto-Dominion Bank Trading Up 0.5%

Shares of TSE TD traded up C$0.78 during trading hours on Tuesday, hitting C$172.10. 4,735,927 shares of the company traded hands, compared to its average volume of 5,601,684. The stock has a market capitalization of C$284.32 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89. The company’s 50 day moving average price is C$157.03 and its 200 day moving average price is C$140.58. Toronto-Dominion Bank has a 12 month low of C$99.51 and a 12 month high of C$172.98.

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

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 that occurred on 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 transaction, the insider directly owned 26,677 shares of the company’s stock, valued at approximately C$4,177,884.97. This trade represents a 24.16% decrease in their ownership of the stock. Also, insider Paul Martyn Clark sold 27,649 shares of the firm’s 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 transaction, the insider directly owned 260 shares in the company, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

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.