Toronto-Dominion Bank (TSE:TD) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on Toronto‑Dominion Bank to C$132 (from C$130), implying a potential upside of 8.21% from the company's current price.
• Despite some upgrades, the consensus remains a Hold with an average price target of C$118.14; TD traded at C$121.99 and reported C$2.18 EPS last quarter, with a market cap of C$208.26 billion and a P/E of 10.44.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price objective increased by analysts at Bank of America from C$130.00 to C$132.00 in a report released on Friday,BayStreet.CA reports. Bank of America's price target suggests a potential upside of 8.21% from the company's current price.

Other research analysts have also issued reports about the company. Scotiabank set a C$114.00 price objective on Toronto-Dominion Bank and gave the company a "sector perform" rating in a research report on Tuesday, November 25th. National Bankshares set a C$100.00 target price on Toronto-Dominion Bank and gave the company a "sector perform" rating in a report on Monday, September 22nd. CIBC boosted their price target on Toronto-Dominion Bank from C$112.00 to C$122.00 in a research report on Wednesday, November 19th. BMO Capital Markets increased their price objective on shares of Toronto-Dominion Bank from C$102.00 to C$107.00 in a research report on Tuesday, September 30th. Finally, Jefferies Financial Group lifted their price objective on shares of Toronto-Dominion Bank from C$125.00 to C$130.00 in a research note on Friday. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$118.14.

Toronto-Dominion Bank Price Performance

TD stock traded up C$1.90 during midday trading on Friday, reaching C$121.99. 2,481,790 shares of the company's stock traded hands, compared to its average volume of 7,114,264. Toronto-Dominion Bank has a fifty-two week low of C$73.22 and a fifty-two week high of C$122.24. The business has a 50-day moving average price of C$113.94 and a two-hundred day moving average price of C$105.23. The company has a market capitalization of C$208.26 billion, a P/E ratio of 10.44, a PEG ratio of 1.22 and a beta of 0.98.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last issued its earnings results on Thursday, December 4th. The company reported C$2.18 EPS for the quarter. The business had revenue of C$16.03 billion for the quarter. Toronto-Dominion Bank had a net margin of 15.80% and a return on equity of 7.84%. As a group, research analysts forecast that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Insider Buying and Selling at Toronto-Dominion Bank

In other news, insider Ajai Bambawale sold 39,376 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of C$112.07, for a total value of C$4,412,868.32. Also, Director Nathalie Palladitcheff purchased 1,000 shares of Toronto-Dominion Bank stock in a transaction dated Monday, October 6th. The shares were bought at an average cost of C$112.64 per share, for a total transaction of C$112,640.00. Following the transaction, the director directly owned 3,292 shares of the company's stock, valued at approximately C$370,810.88. The trade was a 43.63% increase in their position. Over the last three months, insiders have sold 84,384 shares of company stock valued at $9,456,915. 0.08% of the stock is owned by company insiders.

About Toronto-Dominion Bank

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.

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