Canaccord Genuity Group Forecasts Strong Price Appreciation for Toronto-Dominion Bank (TSE:TD) Stock

Toronto-Dominion Bank (TSE:TD - Free Report) NYSE: TD had its target price lifted by Canaccord Genuity Group from C$80.00 to C$81.00 in a report released on Monday,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities analysts also recently commented on TD. Jefferies Financial Group downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating and lifted their price objective for the stock from C$90.00 to C$99.00 in a research report on Tuesday, February 18th. Scotiabank upgraded Toronto-Dominion Bank to a "hold" rating in a research report on Wednesday, May 14th. CIBC lifted 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 report on Thursday, June 5th. Barclays raised their target price on Toronto-Dominion Bank from C$83.00 to C$91.00 in a research note on Monday. Finally, National Bankshares set a C$80.00 target price on Toronto-Dominion Bank and gave the stock a "sector perform" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$89.31.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock traded up C$0.33 during trading on Monday, reaching C$96.31. 2,793,769 shares of the company were exchanged, compared to its average volume of 7,724,499. Toronto-Dominion Bank has a 52-week low of C$73.22 and a 52-week high of C$96.86. The company has a market capitalization of C$168.96 billion, a P/E ratio of 19.08, a PEG ratio of 1.22 and a beta of 0.82. The stock's 50 day simple moving average is C$88.54 and its two-hundred day simple moving average is C$84.00.

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.36%. Toronto-Dominion Bank's payout ratio is presently 80.84%.

Insider Activity

In other news, Director Ana Arsov acquired 3,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average cost of C$94.49 per share, with a total value of C$283,470.00. Also, Director Theresa Lynn Currie sold 48,792 shares of Toronto-Dominion Bank stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of C$94.64, for a total value of C$4,617,674.88. Following the completion of the sale, the director now directly owns 163 shares of the company's stock, valued at C$15,426.32. The trade was a 99.67% decrease in their ownership of the stock. Over the last ninety days, insiders bought 31,154 shares of company stock valued at $2,567,191 and sold 84,628 shares valued at $7,929,143. Insiders own 0.08% of the company's stock.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.