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

Key Points

• National Bank Financial raised TD Bank’s target price from C$162 to C$190 and maintained an “outperform” rating, implying 10.46% upside from the prior close.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy, two rate it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and C$159.17 price target.
• TD shares traded at C$172.01, near their 52-week high of C$175.33. The bank reported quarterly EPS of C$2.38 and revenue of C$16.04 billion, while two insiders recently sold shares.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its target price boosted by equities researchers at National Bank Financial from C$162.00 to C$190.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 10.46% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Raymond James Financial increased their price objective on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the company an "outperform" rating in a report on Wednesday. Barclays increased their target price on shares of Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the company an "underweight" rating in a research report on Friday, May 29th. Scotiabank boosted their target price on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the stock a "sector outperform" rating in a report on Tuesday, June 16th. Canaccord Genuity Group upped their price target on Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Finally, Desjardins increased their target price on shares of Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$159.17.

Toronto-Dominion Bank Price Performance

TSE:TD traded up C$0.03 during midday trading on Thursday, hitting C$172.01. The company's stock had a trading volume of 1,072,709 shares, compared to its average volume of 5,678,211. The firm has a market cap of C$284.17 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.22 and a beta of 0.88. The firm's 50 day moving average is C$168.40 and its 200-day moving average is C$148.56. Toronto-Dominion Bank has a fifty-two week low of C$100.01 and a fifty-two week high of C$175.33.

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

Insiders Place Their Bets

In other news, insider Paul Martyn Clark sold 27,649 shares of Toronto-Dominion Bank stock in a transaction on 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 completion of the sale, the insider directly owned 260 shares of the company's stock, valued at approximately C$41,917.20. The trade was a 99.07% decrease in their position. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of Toronto-Dominion Bank stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the sale, the insider directly owned 26,677 shares of the company's stock, valued at C$4,177,884.97. This trade represents a 24.16% decrease in their ownership of the stock. 0.08% of the stock is currently owned by company insiders.

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