Toronto-Dominion Bank (TSE:TD) Price Target Raised to C$188.00

Key Points

• CIBC raised Toronto-Dominion Bank’s price target to C$188 from C$184 while maintaining a “neutral” rating, implying 10.58% potential upside.
• Analyst sentiment is broadly positive: TD has a consensus “Moderate Buy” rating from 11 analysts, with seven Buys, three Holds, and one Sell; the average target is C$171.08.
• TD shares traded at C$170.02, near their 12-month high of C$175.33. The bank reported quarterly EPS of C$2.77 and revenue of C$16.93 billion, while an insider recently sold 27,649 shares.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price objective upped by investment analysts at Canadian Imperial Bank of Commerce from C$184.00 to C$188.00 in a note issued to investors on Thursday, BayStreet reports. The firm presently has a "neutral" rating on the stock. Canadian Imperial Bank of Commerce's target price indicates a potential upside of 10.58% from the company's current price.

Several other research analysts have also recently issued reports on the company. Barclays increased their price objective on Toronto-Dominion Bank from C$164.00 to C$167.00 and gave the stock an "underweight" rating in a research note on Friday, August 28th. Royal Bank Of Canada lifted their target price on Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Raymond James Financial upped their target price on Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Scotiabank increased their price target on Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 28th. Finally, National Bank Financial raised their price target on Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the company an "outperform" rating in a research note on Sunday. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank has a consensus rating of "Moderate Buy" and an average target price of C$171.08.

Toronto-Dominion Bank Price Performance

TD stock traded up C$1.82 during mid-day trading on Thursday, reaching C$170.02. The company had a trading volume of 1,102,674 shares, compared to its average volume of 5,464,641. The company 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. The firm has a 50 day moving average of C$169.17 and a 200 day moving average of C$152.42. 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 earnings results on Thursday, August 27th. The company reported C$2.77 EPS for the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. The business had revenue of C$16.93 billion for the quarter. Analysts anticipate 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 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 transaction, the insider directly owned 260 shares of the company's stock, valued at C$41,917.20. This trade represents a 99.07% decrease in their ownership of the stock. Corporate 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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