The Toronto-Dominion Bank (TSE:TD) Receives C$150.08 Consensus Price Target from Brokerages

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) has received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$150.08.

TD has been the topic of several recent research reports. Canaccord Genuity Group set a C$169.00 price objective on Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Friday, June 5th. Scotiabank raised their target price on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a report on Tuesday, June 16th. Desjardins boosted their price target on shares of Toronto-Dominion Bank from C$154.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. National Bank Financial upped their price target on shares of Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Raymond James Financial increased their price objective on shares of Toronto-Dominion Bank from C$152.50 to C$155.00 and gave the company an “outperform” rating in a research report on Friday, May 29th.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at C$170.01 on Monday. The stock has a market capitalization of C$280.87 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92. Toronto-Dominion Bank has a 12-month low of C$99.51 and a 12-month high of C$172.98. The stock’s 50-day moving average price is C$157.03 and its 200-day moving average price is C$140.58.

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

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 31st will be given a dividend of $1.12 per share. The ex-dividend date is Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 2.6%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. Toronto-Dominion Bank’s dividend payout ratio is currently 50.00%.

Insider Activity

In related news, insider Paul Martyn Clark sold 27,649 shares of Toronto-Dominion Bank stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the completion of the transaction, the insider owned 260 shares in the company, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their ownership of the stock. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at C$4,177,884.97. The trade was a 24.16% decrease in their ownership of the stock. 0.08% of the stock is currently owned by corporate 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.