Canaccord Genuity Group Raises Toronto-Dominion Bank (TSE:TD) Price Target to C$197.00

by · The Cerbat Gem

Toronto-Dominion Bank (TSE:TD – Get Free Report) (NYSE:TD) had its price target hoisted by research analysts at Canaccord Genuity Group from C$185.00 to C$197.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 17.09% from the company’s current price.

Several other brokerages have also commented on TD. Keefe, Bruyette & Woods set a C$180.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “hold” rating in a research report on Friday, August 21st. National Bank Financial set a C$190.00 target price on shares of Toronto-Dominion Bank and gave the company an “outperform” rating in a research report on Monday. Royal Bank Of Canada raised their price target on shares of Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays lifted their price target on shares of Toronto-Dominion Bank from C$164.00 to C$167.00 and gave the stock an “underweight” rating in a report on Friday. Finally, Scotiabank upped 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. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Moderate Buy” and a consensus target price of C$170.00.

Check Out Our Latest Report on Toronto-Dominion Bank

Toronto-Dominion Bank Price Performance

Shares of TSE TD traded up C$0.41 during mid-day trading on Friday, reaching C$168.25. 1,043,349 shares of the company’s stock were exchanged, compared to its average volume of 5,520,668. The firm has a market capitalization of C$277.96 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.22 and a beta of 0.88. Toronto-Dominion Bank has a 52 week low of C$100.43 and a 52 week high of C$175.33. The firm has a 50-day moving average price of C$169.31 and a two-hundred day moving average price of C$151.43.

Toronto-Dominion Bank (TSE:TD – Get Free Report) (NYSE:TD) last issued its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share for the quarter. The company had revenue of C$16.93 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, sell-side analysts forecast that Toronto-Dominion Bank will post 7.2160149 EPS for the current fiscal year.

Insider Activity at Toronto-Dominion Bank

In related news, insider Paul Martyn Clark sold 27,649 shares of the company’s 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 transaction of C$4,457,571.78. Following the sale, 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 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 transaction of C$1,330,871.78. Following 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. Insiders own 0.08% of the company’s stock.

About Toronto-Dominion Bank

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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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