Toronto-Dominion Bank (TSE:TD) Price Target Raised to C$188.00

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its target price hoisted by Canadian Imperial Bank of Commerce from C$184.00 to C$188.00 in a research note published on Thursday morning,BayStreet reports. The firm currently has a neutral rating on the stock.

Several other research analysts also recently commented on the stock. Barclays lifted their price target on shares of Toronto-Dominion Bank from C$164.00 to C$167.00 and gave the stock an “underweight” rating in a research note on Friday, August 28th. Keefe, Bruyette & Woods upped their price objective on shares of Toronto-Dominion Bank from C$180.00 to C$187.00 in a research note on Monday, August 31st. Royal Bank Of Canada increased their target price on shares of Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Jefferies Financial Group lifted their target price on shares of Toronto-Dominion Bank from C$164.00 to C$165.00 in a research report on Thursday. Finally, Canaccord Genuity Group cut their price target on shares of Toronto-Dominion Bank from C$197.00 to C$196.00 in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$171.08.

Toronto-Dominion Bank Trading Down 1.0%

Shares of Toronto-Dominion Bank stock opened at C$168.24 on Thursday. The firm has a market capitalization of C$275.66 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.22 and a beta of 0.81. Toronto-Dominion Bank has a 12 month low of C$102.50 and a 12 month high of C$175.33. The business’s 50-day moving average price is C$169.11 and its 200-day moving average price is C$152.81.

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

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 31st were issued a $1.12 dividend. 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 dividend yield of 2.7%. The ex-dividend date was Friday, July 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 46.36%.

Insider Activity 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 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 sale, the insider directly owned 260 shares in the company, valued at C$41,917.20. This represents a 99.07% decrease in their position. 0.08% of the stock is currently owned by 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.