Canadian Imperial Bank of Commerce Boosts Toronto-Dominion Bank (TSE:TD) Price Target to C$187.00

Key Points

• Canadian Imperial Bank of Commerce raised its price target for Toronto-Dominion Bank from C$184 to C$187 while maintaining a “neutral” rating, implying 11.14% potential upside.
• Analyst sentiment is broadly positive, with seven Buy ratings, three Holds and one Sell; MarketBeat’s consensus rating is “Moderate Buy,” with an average price target of C$170.
• TD reported quarterly EPS of C$2.77 and revenue of C$16.93 billion. Its shares recently traded at C$168.25, while two insiders sold shares, including one transaction that reduced an insider’s holdings by 99.07%.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price target increased by research analysts at Canadian Imperial Bank of Commerce from C$184.00 to C$187.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a "neutral" rating on the stock. Canadian Imperial Bank of Commerce's price objective would suggest a potential upside of 11.14% from the stock's current price.

TD has been the subject of several other reports. Royal Bank Of Canada boosted 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 research report on Friday. Desjardins increased their price target on shares of Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Barclays lifted their price target on shares of Toronto-Dominion Bank from C$140.00 to C$164.00 in a research note on Friday, August 21st. 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 report on Wednesday, August 12th. Finally, Scotiabank upped their price objective on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank presently has an average rating of "Moderate Buy" and a consensus price target of C$170.00.

Toronto-Dominion Bank Stock Up 0.2%

TSE:TD traded up C$0.41 on Friday, hitting C$168.25. The stock had a trading volume of 1,043,349 shares, compared to its average volume of 5,520,668. The stock has a market cap of C$277.96 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.22 and a beta of 0.88. The business's 50-day simple moving average is C$169.31 and its two-hundred day simple moving average is C$151.43. Toronto-Dominion Bank has a 52-week low of C$100.43 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 earnings per share (EPS) for the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%.The business had revenue of C$16.93 billion during the quarter. As a group, equities research analysts anticipate that Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Insiders Place Their Bets

In other news, 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. This represents a 24.16% decrease in their ownership of the stock. Also, 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 transaction, the insider directly owned 260 shares of the company's stock, valued at C$41,917.20. This represents a 99.07% decrease in their position. Corporate insiders own 0.08% of the company's stock.

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.

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