Toronto-Dominion Bank (TSE:TD) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price target hoisted by equities researchers at Canadian Imperial Bank of Commerce from C$184.00 to C$188.00 in a report released on Thursday, BayStreet reports. The brokerage presently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s target price would indicate a potential upside of 10.58% from the company’s current price.

TD has been the topic of a number of other research reports. Jefferies Financial Group lifted their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$165.00 in a research report on Thursday. Canaccord Genuity Group decreased their target price on shares of Toronto-Dominion Bank from C$197.00 to C$196.00 in a research report on Thursday. Desjardins set a C$183.00 target price on shares of Toronto-Dominion Bank and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their target price on shares of Toronto-Dominion Bank from C$164.00 to C$167.00 and gave the company an “underweight” rating in a research note on Friday, August 28th. Finally, Scotiabank lifted their price target on shares of Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the stock a “sector outperform” rating in a report on Friday, August 28th. Seven 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, Toronto-Dominion Bank presently has an average rating of “Moderate Buy” and a consensus price target of C$171.08.

Toronto-Dominion Bank Stock Performance

TD traded up C$1.82 on Thursday, hitting C$170.02. The company had a trading volume of 1,102,674 shares, compared to its average volume of 5,464,641. The stock has a fifty day moving average price of C$169.17 and a 200-day moving average price of C$152.42. Toronto-Dominion Bank has a 12-month low of C$102.50 and a 12-month high of C$175.33. The stock has a market capitalization of C$278.58 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 1.22 and a beta of 0.88.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last announced its earnings results on Thursday, August 27th. The company reported C$2.77 EPS for the quarter. The business had revenue of C$16.93 billion during the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. Analysts forecast that Toronto-Dominion Bank will post 7.2160149 EPS for the current fiscal year.

Insider Activity

In related news, insider Paul Martyn Clark sold 27,649 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at C$41,917.20. This trade represents a 99.07% decrease in their position. 0.08% of the stock is currently owned by company 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.