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

Key Points

• National Bankshares has raised its price target for Toronto-Dominion Bank from C$98.00 to C$99.00, indicating a potential downside of 3.07% from its previous close.
• Multiple analysts have revised their ratings on the stock, with Desjardins upgrading it to a "moderate buy" and raising the price objective to C$107.00.
• Despite some upgrades, the consensus rating remains a "Hold" with a target price averaging C$95.31 across analysts.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price objective boosted by research analysts at National Bankshares from C$98.00 to C$99.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bankshares' price objective points to a potential downside of 3.07% from the company's previous close.

Other analysts have also issued research reports about the stock. Barclays lifted their price target on shares of Toronto-Dominion Bank from C$91.00 to C$95.00 and gave the stock an "underweight" rating in a research note on Thursday. Desjardins raised shares of Toronto-Dominion Bank from a "hold" rating to a "moderate buy" rating and raised their price objective for the stock from C$97.00 to C$107.00 in a research note on Wednesday. Scotiabank upgraded shares of Toronto-Dominion Bank to a "hold" rating in a report on Wednesday, May 14th. CIBC boosted their target price on shares of 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. Finally, Canaccord Genuity Group set a C$101.00 target price on Toronto-Dominion Bank and gave the stock a "buy" rating in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Toronto-Dominion Bank presently has a consensus rating of "Hold" and a consensus target price of C$95.31.

Toronto-Dominion Bank Trading Down 0.8%

TSE:TD traded down C$0.85 during midday trading on Friday, reaching C$102.14. The company had a trading volume of 1,169,393 shares, compared to its average volume of 7,666,411. Toronto-Dominion Bank has a 12-month low of C$73.22 and a 12-month high of C$103.11. The stock's fifty day simple moving average is C$100.03 and its 200-day simple moving average is C$91.03. The firm has a market capitalization of C$179.19 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.22 and a beta of 0.82.

Insiders Place Their Bets

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 value of C$912,947.76. Also, Director Theresa Lynn Currie sold 48,792 shares of the business'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 transaction of C$4,617,674.88. Following the transaction, the director directly owned 163 shares in the company, valued at C$15,426.32. The trade was a 99.67% decrease in their ownership of the stock. Over the last quarter, insiders have sold 81,612 shares of company stock worth $7,748,610. 0.08% of the stock is owned by 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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