Toronto-Dominion Bank (TSE:TD) Given a C$183.00 Price Target by Desjardins Analysts

Key Points

• Desjardins set a C$183.00 price target for Toronto-Dominion Bank and maintained a “buy” rating, implying 9.70% potential upside from the reported C$166.82 share price.
• Analyst sentiment is broadly positive: seven analysts rate TD a Buy, three Hold, and one Sell, producing a “Moderate Buy” consensus with an average price target of C$171.00.
• TD reported quarterly EPS of C$2.77 on C$16.93 billion in revenue, while insider Paul Martyn Clark sold 27,649 shares worth approximately C$4.46 million.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD received a C$183.00 price objective from equities researchers at Desjardins in a report issued on Wednesday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price objective indicates a potential upside of 9.70% from the company's current price.

A number of other analysts have also recently commented on TD. Raymond James Financial upped their price target 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. Scotiabank lifted their price objective on shares of Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the company a "sector outperform" rating in a research note on Friday, August 28th. Canaccord Genuity Group boosted their target price on shares of Toronto-Dominion Bank from C$185.00 to C$197.00 and gave the company a "buy" rating in a report on Friday, August 28th. Barclays increased their target price on Toronto-Dominion Bank from C$164.00 to C$167.00 and gave the stock an "underweight" rating in a research report on Friday, August 28th. Finally, Keefe, Bruyette & Woods raised their price target on Toronto-Dominion Bank from C$180.00 to C$187.00 in a report on Monday. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of "Moderate Buy" and an average price target of C$171.00.

Toronto-Dominion Bank Price Performance

Shares of TSE TD traded up C$0.59 during midday trading on Wednesday, reaching C$166.82. The company's stock had a trading volume of 999,252 shares, compared to its average volume of 5,470,105. The stock has a market capitalization of C$273.34 billion, a P/E ratio of 17.86, a PEG ratio of 1.22 and a beta of 0.88. The firm has a 50 day moving average price of C$169.19 and a 200-day moving average price of C$152.16. Toronto-Dominion Bank has a 12-month low of C$102.50 and a 12-month high of C$175.33.

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

Insider Activity

In related news, insider Paul Martyn Clark sold 27,649 shares of Toronto-Dominion Bank 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 of the company's stock, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their ownership of the stock. Company 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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