National Bankshares Issues Positive Forecast for Toronto-Dominion Bank (TSE:TD) Stock Price

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 - Free Report) NYSE: TD had its price objective boosted by National Bankshares from C$98.00 to C$99.00 in a research note issued to investors on Friday,BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

Other equities analysts also recently issued 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 company an "underweight" rating in a report on Thursday, August 14th. Scotiabank raised shares of Toronto-Dominion Bank to a "hold" rating in a report on Wednesday, May 14th. CIBC lifted their target price on shares of Toronto-Dominion Bank from C$96.00 to C$99.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Jefferies Financial Group boosted their target price on Toronto-Dominion Bank from C$103.00 to C$117.00 in a report on Wednesday, August 13th. Finally, Desjardins upgraded Toronto-Dominion Bank from a "hold" rating to a "buy" rating and increased their price target for the stock from C$97.00 to C$107.00 in a research report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Toronto-Dominion Bank presently has an average rating of "Hold" and a consensus price target of C$96.08.

Toronto-Dominion Bank Stock Up 0.5%

Toronto-Dominion Bank stock traded up C$0.55 during mid-day trading on Friday, hitting C$102.24. 2,991,087 shares of the company were exchanged, compared to its average volume of 7,593,967. The company has a market capitalization of C$179.37 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82. The business has a fifty day moving average of C$100.49 and a 200 day moving average of C$91.56. Toronto-Dominion Bank has a 1-year low of C$73.22 and a 1-year high of C$103.11.

Toronto-Dominion Bank Dividend Announcement

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

Insider Buying and Selling

In related news, Senior Officer Paul Martyn Clark sold 16,936 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$94.87, for a total transaction of C$1,606,718.32. Following the completion of the transaction, the insider directly owned 260 shares of the company's stock, valued at approximately C$24,666.20. This represents a 98.49% decrease in their ownership of the stock. Also, Senior Officer Kelvin Vi Luan Tran sold 9,612 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$94.98, for a total value of C$912,947.76. Insiders have sold 81,612 shares of company stock worth $7,748,610 over the last three months. Company insiders own 0.08% of the company's stock.

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.