Toronto-Dominion Bank (TSE:TD) Reaches New 12-Month High – Should You Buy?

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$171.60 and last traded at C$171.42, with a volume of 144809 shares. The stock had previously closed at C$171.01.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays boosted their price objective on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the company an “underweight” rating in a report on Friday, May 29th. Canaccord Genuity Group set a C$169.00 target price on Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Friday, June 5th. National Bank Financial lifted their price target on shares of Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Scotiabank boosted 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 research note on Tuesday, June 16th. Finally, Royal Bank Of Canada decreased their price target on shares of Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of C$150.08.

Toronto-Dominion Bank Trading Up 0.8%

The firm has a market cap of C$284.85 billion, a P/E ratio of 20.24, a PEG ratio of 1.22 and a beta of 0.92. The company’s 50-day moving average is C$154.88 and its two-hundred day moving average is C$139.32.

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

Toronto-Dominion Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 30th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $4.32 annualized dividend and a dividend yield of 2.5%. Toronto-Dominion Bank’s payout ratio is presently 50.00%.

Insider Buying and Selling at Toronto-Dominion Bank

In related news, insider Paul Martyn Clark sold 27,649 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 260 shares in the company, valued at approximately C$41,917.20. This represents a 99.07% decrease in their ownership of the stock. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the stock in a transaction 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 sale, the insider directly owned 26,677 shares of the company’s stock, valued at C$4,177,884.97. The trade was a 24.16% decrease in their ownership of the stock. Corporate 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.