Toronto-Dominion Bank (TSE:TD) Sets New 52-Week High After Analyst Upgrade

Key Points

• Toronto-Dominion Bank (TSE:TD) reached a new 52-week high after Desjardins upgraded its rating from hold to moderate buy, setting a new price target of C$107.00.
• Analysts' price targets for Toronto-Dominion Bank have been mostly bullish, with Barclays raising theirs to C$91.00 and Canaccord Genuity setting it at C$101.00.
• In recent insider activity, senior officers sold a significant number of shares, with one officer selling 16,936 shares at an average price of C$94.87, indicating potential shifts in insider confidence.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD's share price reached a new 52-week high during trading on Thursday after National Bankshares raised their price target on the stock from C$98.00 to C$99.00. National Bankshares currently has a sector perform rating on the stock. Toronto-Dominion Bank traded as high as C$102.88 and last traded at C$102.88, with a volume of 457252 shares changing hands. The stock had previously closed at C$102.57.

A number of other research firms have also weighed in on TD. Barclays upped their price objective on Toronto-Dominion Bank from C$91.00 to C$95.00 and gave the stock an "underweight" rating in a research note on Thursday, August 14th. CIBC upped 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 note on Thursday, June 5th. Desjardins raised Toronto-Dominion Bank from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$97.00 to C$107.00 in a research note on Wednesday, August 13th. Jefferies Financial Group upped their price objective on Toronto-Dominion Bank from C$103.00 to C$117.00 in a research note on Wednesday, August 13th. Finally, Canaccord Genuity Group set a C$101.00 price objective on Toronto-Dominion Bank and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of C$95.31.

Insider Buying and Selling

In other Toronto-Dominion Bank news, Senior Officer Kelvin Vi Luan Tran sold 9,612 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$94.98, for a total transaction of C$912,947.76. Also, Director Theresa Lynn Currie sold 48,792 shares of the company's stock in a transaction that occurred 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 sale, the director owned 163 shares in the company, valued at approximately C$15,426.32. This trade represents a 99.67% decrease in their ownership of the stock. Insiders sold 81,612 shares of company stock valued at $7,748,610 in the last ninety days. Company insiders own 0.08% of the company's stock.

Toronto-Dominion Bank Stock Down 0.2%

The company has a market cap of C$178.72 billion, a P/E ratio of 20.18, a PEG ratio of 1.22 and a beta of 0.82. The firm has a 50 day moving average of C$100.27 and a 200-day moving average of C$91.41.

Toronto-Dominion Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 31st were paid a $1.05 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.20 annualized dividend and a yield of 4.1%. Toronto-Dominion Bank's dividend payout ratio is 80.84%.

Toronto-Dominion Bank Company Profile

Toronto-Dominion is one of Canada's two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank's U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.