Toronto-Dominion Bank (TSE:TD) Price Target Raised to C$183.00 at Desjardins

Key Points

• Desjardins raised Toronto-Dominion Bank’s price target from C$160 to C$183 and maintained a “buy” rating, implying 7.48% upside from the prior close.
• TD shares rose 1.4% to C$170.26, near their 52-week high of C$175.33. Analysts’ overall consensus is “Moderate Buy,” with an average target of C$153.33.
• Two insiders sold shares in June, including one transaction that reduced an executive’s holdings by 99.07%; company insiders collectively own 0.08% of the stock.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price objective lifted by Desjardins from C$160.00 to C$183.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price target would suggest a potential upside of 7.48% from the stock's previous close.

TD has been the subject of a number of other research reports. Barclays upped their target price 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. Canadian Imperial Bank of Commerce boosted their price target on Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Canaccord Genuity Group upped their price objective on 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. Scotiabank raised their price objective on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a "sector outperform" rating in a research report on Tuesday, June 16th. Finally, Jefferies Financial Group lifted their target price on Toronto-Dominion Bank from C$134.00 to C$142.00 in a research note on Wednesday, May 20th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Toronto-Dominion Bank presently has a consensus rating of "Moderate Buy" and a consensus target price of C$153.33.

Toronto-Dominion Bank Stock Up 1.4%

TSE:TD traded up C$2.36 during mid-day trading on Wednesday, reaching C$170.26. The company's stock had a trading volume of 1,231,626 shares, compared to its average volume of 5,750,156. Toronto-Dominion Bank has a 1 year low of C$100.01 and a 1 year high of C$175.33. The stock has a fifty day moving average of C$166.72 and a 200-day moving average of C$146.87. The firm has a market capitalization of C$281.28 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89.

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

Insider Activity

In other news, insider Kelvin Vi Luan Tran sold 8,498 shares of the business's stock in a transaction dated 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 sale, the insider owned 26,677 shares in the company, valued at approximately 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 dated 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 owned 260 shares in the company, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their position. Corporate insiders own 0.08% of the company's stock.

About Toronto-Dominion Bank

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source