Desjardins Reiterates “C$183.00” Price Target for Toronto-Dominion Bank (TSE:TD)

Desjardins set a C$183.00 price target on Toronto-Dominion Bank (TSE:TD) (NYSE:TD) in a research note published on Wednesday,BayStreet reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on TD. National Bank Financial boosted their target price on shares of Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the company an “outperform” rating in a report on Sunday, August 30th. Canaccord Genuity Group lifted their price target on Toronto-Dominion Bank from C$185.00 to C$197.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Barclays boosted their price objective on Toronto-Dominion Bank from C$164.00 to C$167.00 and gave the company an “underweight” rating in a research note on Friday, August 28th. Jefferies Financial Group increased their price objective on Toronto-Dominion Bank from C$159.00 to C$164.00 in a report on Friday, August 28th. Finally, Canadian Imperial Bank of Commerce raised their target price on Toronto-Dominion Bank from C$184.00 to C$187.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Toronto-Dominion Bank has an average rating of “Moderate Buy” and a consensus price target of C$171.08.

Toronto-Dominion Bank Stock Down 1.0%

Shares of TSE:TD opened at C$168.24 on Wednesday. The firm has a market capitalization of C$275.66 billion, a PE ratio of 18.01, a P/E/G ratio of 1.22 and a beta of 0.88. The company has a 50-day moving average price of C$169.11 and a two-hundred day moving average price of C$152.81. Toronto-Dominion Bank has a twelve month low of C$102.50 and a twelve month high of C$175.33.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share (EPS) for the quarter. The company had revenue of C$16.93 billion for the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. Analysts anticipate that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 31st were given a dividend of $1.12 per share. The ex-dividend date was Friday, July 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 2.7%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 46.36%.

Insiders Place Their Bets

In other Toronto-Dominion Bank news, insider Paul Martyn Clark sold 27,649 shares of the firm’s stock in a transaction dated 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 sale, 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 owned by corporate insiders.

About Toronto-Dominion Bank

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.