Brokerages Set The Toronto-Dominion Bank (TSE:TD) Price Target at C$151.42

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$151.42.

A number of research analysts have commented on the company. Barclays upped their price target on 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. Canadian Imperial Bank of Commerce lifted their price objective on Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. National Bank Financial boosted their price objective on Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Desjardins increased 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. Finally, Jefferies Financial Group raised their target price on Toronto-Dominion Bank from C$134.00 to C$142.00 in a report on Wednesday, May 20th.

Insider Activity

In related news, insider Kelvin Vi Luan Tran sold 8,498 shares of Toronto-Dominion Bank 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 value of C$1,330,871.78. Following the completion of the transaction, the insider owned 26,677 shares in the company, valued at approximately C$4,177,884.97. The trade was a 24.16% decrease in their ownership of the stock. Also, insider Paul Martyn Clark sold 27,649 shares of Toronto-Dominion Bank stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$161.22, for a total transaction of C$4,457,571.78. Following the completion of the transaction, the insider owned 260 shares of the company’s stock, valued at C$41,917.20. This trade represents a 99.07% decrease in their position. 0.08% of the stock is currently owned by corporate insiders.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at C$167.77 on Friday. The firm’s 50 day moving average price is C$165.98 and its 200-day moving average price is C$146.08. Toronto-Dominion Bank has a one year low of C$99.51 and a one year high of C$175.33. The firm has a market cap of C$277.16 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.22 and a beta of 0.89.

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

Toronto-Dominion Bank Increases Dividend

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