Barclays Issues Positive Forecast for Toronto-Dominion Bank (TSE:TD) Stock Price

Key Points

• Barclays has upgraded its target price for Toronto-Dominion Bank (TSE:TD) from C$91.00 to C$95.00, indicating a potential downside of 7.61% from the stock's previous close.
• The bank's consensus rating is "Hold" with a price target averaging C$93.85 according to various equity analysts, reflecting mixed opinions on the stock.
• In recent insider activity, Director Theresa Lynn Currie sold a significant portion of her shares, while Director Ana Arsov purchased additional shares, signaling diverging views on the stock's future performance.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its target price boosted by equities researchers at Barclays from C$91.00 to C$95.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an "underweight" rating on the stock. Barclays's price target suggests a potential downside of 7.61% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. National Bankshares set a C$80.00 price objective on Toronto-Dominion Bank and gave the stock a "sector perform" rating in a research note on Thursday, May 22nd. Desjardins upgraded Toronto-Dominion Bank from a "hold" rating to a "moderate buy" rating and upped their price objective for the stock from C$97.00 to C$107.00 in a research note on Wednesday. Canaccord Genuity Group set a C$101.00 price objective on Toronto-Dominion Bank and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Scotiabank upgraded Toronto-Dominion Bank to a "hold" rating in a research note on Wednesday, May 14th. Finally, CIBC upped their price objective on Toronto-Dominion Bank from C$96.00 to C$99.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of C$93.85.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock traded up C$0.26 during trading on Thursday, hitting C$102.83. 1,190,641 shares of the company were exchanged, compared to its average volume of 7,695,520. The firm has a market capitalization of C$180.40 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82. Toronto-Dominion Bank has a 1-year low of C$73.22 and a 1-year high of C$103.02. The firm's fifty day moving average price is C$99.88 and its 200 day moving average price is C$90.89.

Insider Activity

In other news, Director Theresa Lynn Currie sold 48,792 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of C$94.64, for a total transaction of C$4,617,674.88. Following the completion of the sale, the director owned 163 shares in the company, valued at C$15,426.32. The trade was a 99.67% decrease in their ownership of the stock. Also, Director Ana Arsov acquired 3,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were purchased at an average price of C$94.49 per share, with a total value of C$283,470.00. Over the last 90 days, insiders have sold 81,612 shares of company stock valued at $7,748,610. Corporate insiders own 0.08% of the company's stock.

About Toronto-Dominion Bank

Toronto-Dominion is one of Canada's two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank's U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.

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