Toronto-Dominion Bank (TSE:TD) Given New C$184.00 Price Target at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised TD’s price target to C$184 from C$164 while maintaining a “neutral” rating, implying 12.25% potential upside.
• Analyst sentiment is broadly positive, with seven Buy ratings, two Holds and one Sell; MarketBeat’s consensus rating is “Moderate Buy,” with a C$160.83 average price target.
• TD shares fell 3.4% to C$163.92 during Wednesday trading. The bank reported C$2.38 in quarterly earnings per share and C$16.04 billion in revenue, while two insiders recently sold shares.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its target price upped by analysts at Canadian Imperial Bank of Commerce from C$164.00 to C$184.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a "neutral" rating on the stock. Canadian Imperial Bank of Commerce's price target would suggest a potential upside of 12.25% from the company's current price.

TD has been the topic of several other research reports. Barclays upped their price target on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the stock an "underweight" rating in a report on Friday, May 29th. Scotiabank upped their target price on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, June 16th. Canaccord Genuity Group lifted their price target on shares of Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Desjardins increased their price objective on shares of Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, National Bank Financial raised their price objective on shares of Toronto-Dominion Bank from C$162.00 to C$190.00 and gave the company an "outperform" rating in a report on Thursday, August 13th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$160.83.

Toronto-Dominion Bank Stock Down 3.4%

TD stock traded down C$5.70 during midday trading on Wednesday, hitting C$163.92. The company's stock had a trading volume of 1,457,332 shares, compared to its average volume of 5,600,683. The firm has a 50-day simple moving average of C$169.42 and a 200-day simple moving average of C$149.74. The firm has a market capitalization of C$270.80 billion, a P/E ratio of 19.24, a PEG ratio of 1.22 and a beta of 0.88. Toronto-Dominion Bank has a 52-week low of C$100.01 and a 52-week high of C$175.33.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last posted its quarterly earnings data on Thursday, May 28th. The company reported C$2.38 earnings per share for the quarter. The business had revenue of C$16.04 billion for the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%. On average, sell-side analysts expect that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kelvin Vi Luan Tran sold 8,498 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of C$156.61, for a total transaction of C$1,330,871.78. Following the completion of the sale, the insider owned 26,677 shares in the company, valued at C$4,177,884.97. The trade was a 24.16% decrease in their ownership of the stock. Also, 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 value of C$4,457,571.78. Following the completion of 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. 0.08% of the stock is currently owned by company 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.

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