Canaccord Genuity Group Has Lowered Expectations for Toronto-Dominion Bank (TSE:TD) Stock Price

Key Points

• Canaccord Genuity Group lowered TD’s price target slightly from C$197 to C$196, implying 15.28% upside from the previous close.
• Analyst sentiment remains positive, with seven Buy, three Hold and one Sell rating; MarketBeat calculates an overall “Moderate Buy” consensus and an average target of C$171.08.
• TD shares traded at C$170.02, near their 52-week high, after reporting quarterly EPS of C$2.77 and revenue of C$16.93 billion.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price objective decreased by investment analysts at Canaccord Genuity Group from C$197.00 to C$196.00 in a note issued to investors on Thursday, BayStreet reports. Canaccord Genuity Group's target price would suggest a potential upside of 15.28% from the stock's previous close.

TD has been the topic of several other reports. Raymond James Financial boosted their price objective on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Jefferies Financial Group raised their target price on shares of Toronto-Dominion Bank from C$159.00 to C$164.00 in a research note on Friday, August 28th. National Bank Financial lifted 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. Canadian Imperial Bank of Commerce boosted their price target on shares of 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. Finally, Keefe, Bruyette & Woods increased their price target on shares of Toronto-Dominion Bank from C$180.00 to C$187.00 in a report on Monday. Seven 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of C$171.08.

Toronto-Dominion Bank Price Performance

Shares of TD stock traded up C$1.82 during midday trading on Thursday, hitting C$170.02. The company had a trading volume of 1,102,674 shares, compared to its average volume of 5,464,641. The stock has a market cap of C$278.58 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.22 and a beta of 0.88. The company's 50 day simple moving average is C$169.17 and its 200 day simple moving average is C$152.42. Toronto-Dominion Bank has a 52-week low of C$102.50 and a 52-week high of C$175.33.

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

Insiders Place Their Bets

In other news, 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 sale, 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 position. 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.

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