Toronto-Dominion Bank (TSE:TD) Reaches New 52-Week High – Here’s What Happened

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s stock price reached a new 52-week high on Thursday. The company traded as high as C$175.40 and last traded at C$175.31, with a volume of 1,136,038 shares trading hands. The stock had previously closed at C$175.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TD shares. National Bank Financial boosted their price objective on shares of Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the company an “outperform” rating in a research report on Sunday, August 30th. Scotiabank boosted their target price on Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the company a “sector outperform” rating in a research report on Friday, August 28th. Raymond James Financial boosted their price target on Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Jefferies Financial Group increased their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$165.00 in a research note on Thursday, September 3rd. Finally, Canadian Imperial Bank of Commerce raised their price objective on Toronto-Dominion Bank from C$184.00 to C$188.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$171.08.

Toronto-Dominion Bank Stock Performance

The stock’s 50 day moving average is C$167.97 and its two-hundred day moving average is C$161.75. The stock has a market capitalization of C$286.01 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share for the quarter. The firm had revenue of C$16.93 billion for the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. Equities research analysts expect that The Toronto-Dominion Bank will post 7.22 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Saturday, October 31st will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 46.36%.

Insider Transactions at Toronto-Dominion Bank

In other Toronto-Dominion Bank news, insider Kelvin Vi Luan Tran sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$172.92, for a total value of C$1,383,360.00. Following the completion of the transaction, the insider owned 23,877 shares in the company, valued at C$4,128,810.84. The trade was a 25.10% decrease in their ownership of the stock. 0.08% of the stock is 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.