Toronto-Dominion Bank (TSE:TD) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Toronto‑Dominion hit a new 52‑week high after Desjardins raised its price target to C$154 and kept a buy rating; the stock traded as high as C$147.17 amid several analyst upgrades and a MarketBeat consensus of “Moderate Buy” (consensus target C$140.42).
• TD's fundamentals are solid—market cap C$246.5B, P/E 11.96, quarterly EPS C$2.44, ROE 17.26% and net margin 19.11%—and it pays a quarterly dividend of C$1.08 (annualized C$4.32) for a yield of 2.9% with a 34.25% payout ratio.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD's share price hit a new 52-week high on Wednesday after Desjardins raised their price target on the stock from C$145.00 to C$154.00. Desjardins currently has a buy rating on the stock. Toronto-Dominion Bank traded as high as C$147.17 and last traded at C$147.02, with a volume of 630649 shares. The stock had previously closed at C$144.26.

Several other equities research analysts also recently issued reports on TD. Scotiabank raised Toronto-Dominion Bank from a "sector perform" rating to a "sector outperform" rating and raised their price target for the company from C$142.00 to C$150.00 in a research report on Monday. Canaccord Genuity Group increased their target price on shares of Toronto-Dominion Bank from C$147.00 to C$149.00 and gave the company a "buy" rating in a research note on Monday, March 9th. Jefferies Financial Group reduced their target price on shares of Toronto-Dominion Bank from C$130.00 to C$128.00 in a research note on Wednesday, February 11th. Barclays raised their price target on shares of Toronto-Dominion Bank from C$133.00 to C$135.00 in a research note on Friday, February 27th. Finally, Royal Bank Of Canada cut their price target on shares of Toronto-Dominion Bank from C$148.00 to C$138.00 and set an "outperform" rating for the company in a research note on Wednesday, March 25th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Toronto-Dominion Bank has a consensus rating of "Moderate Buy" and a consensus price target of C$140.42.

Toronto-Dominion Bank Stock Performance

The firm's 50-day moving average is C$135.07 and its two-hundred day moving average is C$127.65. The stock has a market cap of C$246.50 billion, a P/E ratio of 11.96, a PEG ratio of 1.22 and a beta of 0.92.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last posted its quarterly earnings data on Thursday, February 26th. The company reported C$2.44 earnings per share for the quarter. Toronto-Dominion Bank had a net margin of 19.11% and a return on equity of 17.26%. The firm had revenue of C$16.63 billion during the quarter. As a group, research analysts forecast that The Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Toronto-Dominion Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th were given a dividend of $1.08 per share. The ex-dividend date was Thursday, April 9th. This represents a $4.32 annualized dividend and a dividend yield of 2.9%. Toronto-Dominion Bank's payout ratio is presently 34.25%.

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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