Toronto-Dominion Bank (TSE:TD) Given New C$187.00 Price Target at Scotiabank

Key Points

• Scotiabank raised Toronto-Dominion Bank’s price target to C$187 from C$180 while maintaining a “sector outperform” 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 target of C$170.
• TD shares rose 0.2% to C$168.25, while the bank reported quarterly earnings of C$2.77 per share and revenue of C$16.93 billion.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price target upped by analysts at Scotiabank from C$180.00 to C$187.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's target price would suggest a potential upside of 11.14% from the company's current price.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods set a C$180.00 target price on shares of Toronto-Dominion Bank and gave the stock a "hold" rating in a report on Friday, August 21st. Royal Bank Of Canada upped their price objective 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. Canadian Imperial Bank of Commerce raised their price objective on Toronto-Dominion Bank from C$184.00 to C$187.00 and gave the stock a "neutral" rating in a research note on Friday. Jefferies Financial Group lifted their target price on Toronto-Dominion Bank from C$159.00 to C$164.00 in a report on Friday. Finally, Desjardins boosted their target price on Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$170.00.

Toronto-Dominion Bank Trading Up 0.2%

Shares of TD stock traded up C$0.41 on Friday, reaching C$168.25. The company 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 PE ratio of 19.75, a PEG ratio of 1.22 and a beta of 0.88. The company has a 50-day moving average of C$169.31 and a 200-day moving average of C$151.43. Toronto-Dominion Bank has a 12 month low of C$100.43 and a 12 month high of C$175.33.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last announced its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share for the quarter. Toronto-Dominion Bank had a net margin of 13.21% and a return on equity of 11.85%. The business had revenue of C$16.93 billion for the quarter. Sell-side analysts anticipate that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Insider Transactions at Toronto-Dominion Bank

In other Toronto-Dominion Bank news, insider Kelvin Vi Luan Tran sold 8,498 shares of Toronto-Dominion Bank stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the sale, the insider owned 26,677 shares of the company's stock, valued at C$4,177,884.97. This trade represents a 24.16% decrease in their position. Also, 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 value 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 represents a 99.07% decrease in their position. 0.08% of the stock is currently owned by corporate 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.

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