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

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective hoisted by equities researchers at National Bank Financial from C$162.00 to C$190.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target points to a potential upside of 10.46% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. Canadian Imperial Bank of Commerce increased their price target on shares of Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Desjardins boosted their target price on Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Jefferies Financial Group raised their target price on shares of Toronto-Dominion Bank from C$151.00 to C$159.00 in a report on Thursday. Raymond James Financial lifted their price objective on Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Scotiabank boosted their price target on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the stock a “sector outperform” rating in a report on Tuesday, June 16th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$159.17.

Toronto-Dominion Bank Stock Performance

TD traded up C$0.03 during trading on Thursday, hitting C$172.01. The stock had a trading volume of 1,072,709 shares, compared to its average volume of 5,678,211. The firm has a market capitalization of C$284.17 billion, a P/E ratio of 20.19, a PEG ratio of 1.22 and a beta of 0.88. Toronto-Dominion Bank has a twelve month low of C$100.01 and a twelve month high of C$175.33. The company’s 50-day moving average price is C$168.40 and its 200 day moving average price is C$148.56.

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

Insiders Place Their Bets

In other news, insider Paul Martyn Clark sold 27,649 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were 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 directly owned 260 shares in the company, valued at approximately C$41,917.20. This represents a 99.07% decrease in their ownership of the stock. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the completion of the transaction, the insider directly owned 26,677 shares in the company, valued at approximately 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.

Toronto-Dominion Bank Company Profile

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.