Toronto-Dominion Bank (TSE:TD) Price Target Raised to C$165.00

Key Points

• Jefferies raised Toronto-Dominion Bank’s price target from C$164 to C$165, implying approximately 2.95% downside from the prior close.
• Analyst sentiment remains a Moderate Buy, with seven Buy, three Hold and one Sell rating; the average price target is C$171.08.
• TD shares traded at C$170.02, near their C$175.33 one-year high. The bank reported quarterly EPS of C$2.77 on C$16.93 billion in revenue, while an insider recently sold 27,649 shares.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price objective increased by equities researchers at Jefferies Financial Group from C$164.00 to C$165.00 in a note issued to investors on Thursday, BayStreet reports. Jefferies Financial Group's price target would suggest a potential downside of 2.95% from the company's previous close.

TD has been the subject of a number of other reports. Barclays lifted their price target on shares of Toronto-Dominion Bank from C$164.00 to C$167.00 and gave the company an "underweight" rating in a research report on Friday, August 28th. Raymond James Financial raised their price objective on Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Canaccord Genuity Group dropped their price objective on Toronto-Dominion Bank from C$197.00 to C$196.00 in a report on Thursday. Royal Bank Of Canada lifted their price objective on 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. Finally, National Bank Financial upped their target price on Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the company an "outperform" rating in a research report on Sunday. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$171.08.

Toronto-Dominion Bank Stock Performance

TSE:TD traded up C$1.82 during mid-day trading on Thursday, reaching C$170.02. 1,102,674 shares of the company's stock were exchanged, compared to its average volume of 5,464,641. Toronto-Dominion Bank has a one year low of C$102.50 and a one year high of C$175.33. The business's fifty day simple moving average is C$169.17 and its two-hundred day simple moving average is C$152.42. The firm has a market capitalization of C$278.58 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.22 and a beta of 0.88.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last posted its quarterly earnings data on Thursday, August 27th. The company reported C$2.77 earnings per share (EPS) for the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. The firm had revenue of C$16.93 billion during the quarter. As a group, equities research analysts forecast that Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Insider Buying and Selling at Toronto-Dominion Bank

In other news, insider Paul Martyn Clark sold 27,649 shares of the company's 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 owned 260 shares of the company's stock, valued at approximately C$41,917.20. This represents a 99.07% decrease in their position. 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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