Toronto-Dominion Bank (TSE:TD) Reaches New 12-Month High on Analyst Upgrade

Shares of The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from C$100.00 to C$114.00. Barclays currently has an underweight rating on the stock. Toronto-Dominion Bank traded as high as C$116.62 and last traded at C$116.38, with a volume of 1245796 shares trading hands. The stock had previously closed at C$115.59.

A number of other equities research analysts have also recently weighed in on the company. CIBC lifted their price target on Toronto-Dominion Bank from C$112.00 to C$122.00 in a report on Wednesday, November 19th. Desjardins boosted their price target on Toronto-Dominion Bank from C$107.00 to C$110.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Scotiabank increased their price target on Toronto-Dominion Bank from C$104.00 to C$114.00 in a research note on Friday, October 10th. National Bankshares set a C$100.00 price target on Toronto-Dominion Bank and gave the company a “sector perform” rating in a report on Monday, September 22nd. Finally, Canaccord Genuity Group increased their target price on shares of Toronto-Dominion Bank from C$113.00 to C$119.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus target price of C$108.58.

Insiders Place Their Bets

In other Toronto-Dominion Bank news, insider Ajai Bambawale sold 7,328 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of C$112.07, for a total value of C$821,248.96. Following the sale, the insider directly owned 800 shares in the company, valued at approximately C$89,656. The trade was a 90.16% decrease in their ownership of the stock. Also, Director Nathalie Palladitcheff purchased 1,000 shares of the business’s stock in a transaction on Monday, October 6th. The stock was acquired at an average cost of C$112.64 per share, with a total value of C$112,640.00. Following the completion of the acquisition, the director directly owned 3,292 shares in the company, valued at C$370,810.88. The trade was a 43.63% increase in their position. Insiders sold a total of 84,384 shares of company stock worth $9,456,915 in the last three months. Company insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Stock Up 1.0%

The stock has a market cap of C$199.25 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96. The company’s 50-day simple moving average is C$112.31 and its 200-day simple moving average is C$103.66.

Toronto-Dominion Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 31st were paid a $1.05 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $4.20 dividend on an annualized basis and a yield of 3.6%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 35.70%.

About Toronto-Dominion Bank

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.