Toronto-Dominion Bank (TSE:TD – Free Report) (NYSE:TD) had its target price raised by Royal Bank Of Canada from C$156.00 to C$173.00 in a research report report published on Friday morning,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.
Other equities analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce upped their target price on shares of Toronto-Dominion Bank from C$164.00 to C$184.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. Scotiabank lifted their price target on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a research note on Tuesday, June 16th. National Bank Financial set a C$190.00 price target on Toronto-Dominion Bank and gave the company an “outperform” rating in a report on Monday, August 24th. Barclays boosted their price target on Toronto-Dominion Bank from C$140.00 to C$164.00 in a report on Friday, August 21st. Finally, Canaccord Genuity Group upped their price objective on Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$170.46.
Read Our Latest Research Report on TD
Toronto-Dominion Bank Stock Performance
Toronto-Dominion Bank (TSE:TD – Get Free Report) (NYSE:TD) last issued its quarterly earnings data 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 company had revenue of C$16.93 billion during the quarter. On average, sell-side analysts anticipate that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.
Toronto-Dominion Bank Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 31st were issued a dividend of $1.12 per share. The ex-dividend date was Friday, July 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 2.7%. Toronto-Dominion Bank’s dividend payout ratio is currently 46.36%.
Insider Buying and Selling at Toronto-Dominion Bank
In related news, insider Paul Martyn Clark sold 27,649 shares of the firm’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 owned 260 shares of the company’s stock, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their ownership of the stock. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of Toronto-Dominion Bank stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$156.61, for a total transaction of C$1,330,871.78. Following the completion of the sale, the insider owned 26,677 shares in the company, valued at C$4,177,884.97. The trade was a 24.16% decrease in their ownership of the stock. Corporate insiders own 0.08% of the company’s stock.
More Toronto-Dominion Bank News
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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