Toronto-Dominion Bank (TSE:TD) Sets New 52-Week High - What's Next?

Key Points

• Toronto-Dominion Bank shares reached a new 52-week high of C$175.40, with the stock last trading at C$175.31 and a market capitalization of approximately C$286 billion.
• Analyst sentiment remains positive, with seven Buy ratings, three Holds and one Sell producing a consensus “Moderate Buy” rating. However, the C$171.08 consensus price target is below the current share price.
• TD reported quarterly EPS of C$2.77 on C$16.93 billion in revenue and declared a quarterly dividend of C$1.12 per share, equal to a 2.6% annualized yield.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD's stock price hit a new 52-week high on Thursday. The stock traded as high as C$175.40 and last traded at C$175.31, with a volume of 1,136,038 shares traded. The stock had previously closed at C$175.11.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TD shares. Canaccord Genuity Group cut their price objective on shares of Toronto-Dominion Bank from C$197.00 to C$196.00 in a research report on Thursday, September 3rd. Raymond James Financial lifted their price objective on shares of 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. Canadian Imperial Bank of Commerce lifted their price objective on shares of Toronto-Dominion Bank from C$184.00 to C$188.00 and gave the company a "neutral" rating in a research note on Thursday, September 3rd. Desjardins set a C$183.00 target price on Toronto-Dominion Bank and gave the stock a "buy" rating in a report on Wednesday, September 2nd. Finally, Scotiabank raised their price target on shares of Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the stock a "sector outperform" rating in a report on Friday, August 28th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$171.08.

Toronto-Dominion Bank Price Performance

The stock has a market capitalization of C$286.01 billion, a PE ratio of 18.75, a PEG ratio of 1.22 and a beta of 0.84. The stock's 50 day simple moving average is C$167.97 and its two-hundred day simple moving average is C$161.75.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last posted its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 EPS for the quarter. Toronto-Dominion Bank had a return on equity of 12.83% and a net margin of 14.36%. The firm had revenue of C$16.93 billion during the quarter. As a group, equities research analysts predict that The Toronto-Dominion Bank will post 7.22 earnings per share for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Saturday, October 31st will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 2.6%. Toronto-Dominion Bank's dividend payout ratio (DPR) is 46.36%.

Insiders Place Their Bets

In related news, insider Kelvin Vi Luan Tran sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of C$172.92, for a total transaction of C$1,383,360.00. Following the transaction, the insider directly owned 23,877 shares in the company, valued at C$4,128,810.84. This trade represents a 25.10% decrease in their position. 0.08% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.