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

Key Points

• Scotiabank has raised its price target for Toronto-Dominion Bank (TSE:TD) from C$104.00 to C$114.00, indicating a potential upside of 3.43% from its previous close.
• Other firms, including CIBC and Royal Bank of Canada, have also increased their target prices for TD, reflecting a positive outlook from multiple analysts.
• Insider trading activity shows Director Nathalie Palladitcheff purchasing additional shares while insider Ajai Bambawale sold a significant number, indicating mixed signals regarding sentiment among executives.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its price objective boosted by equities researchers at Scotiabank from C$104.00 to C$114.00 in a report released on Friday,BayStreet.CA reports. Scotiabank's price target would suggest a potential upside of 3.43% from the company's previous close.

A number of other research firms also recently commented on TD. CIBC boosted their target price on shares of Toronto-Dominion Bank from C$109.00 to C$112.00 in a report on Friday, September 5th. National Bankshares set a C$100.00 target price on shares of Toronto-Dominion Bank and gave the stock a "sector perform" rating in a report on Monday, September 22nd. Royal Bank Of Canada upgraded shares of Toronto-Dominion Bank from a "hold" rating to a "moderate buy" rating and boosted their target price for the stock from C$93.00 to C$120.00 in a report on Friday, October 3rd. BMO Capital Markets boosted their target price on shares of Toronto-Dominion Bank from C$102.00 to C$107.00 in a report on Tuesday, September 30th. Finally, Barclays lifted their target price on shares of Toronto-Dominion Bank from C$95.00 to C$97.00 and gave the stock an "underweight" rating in a research report on Friday, August 29th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank has a consensus rating of "Hold" and an average target price of C$106.33.

Toronto-Dominion Bank Stock Performance

Shares of TD stock traded down C$0.75 during midday trading on Friday, reaching C$110.22. 7,339,806 shares of the company were exchanged, compared to its average volume of 7,393,334. Toronto-Dominion Bank has a 12 month low of C$73.22 and a 12 month high of C$114.24. The company has a market cap of C$193.08 billion, a P/E ratio of 9.44, a PEG ratio of 1.22 and a beta of 0.95. The company's 50 day moving average price is C$105.50 and its two-hundred day moving average price is C$97.08.

Insider Activity at Toronto-Dominion Bank

In other Toronto-Dominion Bank news, Director Nathalie Palladitcheff bought 1,000 shares of the firm's stock in a transaction on Monday, October 6th. The stock was bought at an average cost of C$112.64 per share, with a total value of C$112,640.00. Following the completion of 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. Also, insider Ajai Bambawale sold 7,328 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of C$112.07, for a total transaction of C$821,248.96. Following the completion of the sale, the insider directly owned 800 shares of the company's stock, valued at C$89,656. This represents a 90.16% decrease in their ownership of the stock. Insiders sold 84,384 shares of company stock valued at $9,456,915 over the last three months. Insiders own 0.08% of the company's stock.

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.

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