Toronto-Dominion Bank (TSE:TD – Get Free Report) (NYSE:TD) had its price target raised by investment analysts at National Bank Financial from C$190.00 to C$196.00 in a research report issued on Sunday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price target would suggest a potential upside of 16.24% from the stock’s current price.
A number of other analysts have also weighed in on TD. Canaccord Genuity Group upped their target price on shares of Toronto-Dominion Bank from C$185.00 to C$197.00 and gave the stock a “buy” rating in a report on Friday. Canadian Imperial Bank of Commerce upped their price target on shares of Toronto-Dominion Bank from C$184.00 to C$187.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank Of Canada increased their price objective on Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the stock an “outperform” rating in a research report on Friday. Scotiabank lifted their price objective on Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the company a “sector outperform” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods set a C$180.00 target price on Toronto-Dominion Bank and gave the stock a “hold” rating in a research note on Friday, August 21st. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Moderate Buy” and an average target price of C$170.46.
Check Out Our Latest Research Report on Toronto-Dominion Bank
Toronto-Dominion Bank Price Performance
Toronto-Dominion Bank (TSE:TD – Get Free Report) (NYSE:TD) last announced its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share (EPS) for the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. The firm had revenue of C$16.93 billion for the quarter. As a group, analysts forecast that Toronto-Dominion Bank will post 7.2160149 EPS for the current year.
Insiders Place Their Bets
In other news, insider Paul Martyn Clark sold 27,649 shares of the company’s 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 directly owned 260 shares in the company, valued at approximately C$41,917.20. This represents a 99.07% decrease in their position. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the stock in a transaction dated 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 transaction, the insider owned 26,677 shares in the company, valued at C$4,177,884.97. This trade represents a 24.16% decrease in their ownership of the stock. 0.08% of the stock is owned by corporate insiders.
Key Stories Impacting Toronto-Dominion Bank
Here are the key news stories impacting Toronto-Dominion Bank this week:
- Positive Sentiment: Quarterly earnings exceeded expectations. TD reported fiscal third-quarter earnings of C$2.77 per share on C$16.93 billion in revenue, with results benefiting from strength in Canadian banking, U.S. retail and wholesale banking. The bank posted a 13.21% net margin and 11.85% return on equity. TD Bank Q3 earnings beat TD Beats Estimates as Markets Lift Big Canadian Bank Earnings
- Positive Sentiment: Several analysts raised their price targets. RBC lifted its target to C$173 from C$156 and initiated an “outperform” rating. Canaccord raised its target to C$197 from C$185 and maintained a “buy” rating, implying the most significant potential upside among the latest revisions. Scotiabank also increased its target to C$187 from C$180 with a “sector outperform” rating. Analyst rating changes
- Neutral Sentiment: Analyst opinion remains mixed. CIBC raised its target to C$187 from C$184 but kept a “neutral” rating, suggesting that the higher target does not necessarily signal strong conviction. Analysts’ differing views reflect uncertainty over how much of the earnings improvement is already reflected in TD’s valuation. CIBC analyst rating
- Negative Sentiment: Some firms still see limited or negative upside. Jefferies raised its target to C$164 from C$159, below the recent trading level, while Barclays increased its target to C$167 from C$164 and maintained an “underweight” rating. These views could limit gains if investors focus on valuation or potential normalization in bank earnings. Jefferies and Barclays analyst ratings
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.
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