Scotiabank Forecasts Strong Price Appreciation for Toronto-Dominion Bank (TSE:TD) Stock

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective raised by investment analysts at Scotiabank from C$114.00 to C$125.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 2.47% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on TD. Bank of America boosted their price target on Toronto-Dominion Bank from C$130.00 to C$132.00 in a report on Friday. BMO Capital Markets lifted their price objective on shares of Toronto-Dominion Bank from C$120.00 to C$128.00 in a report on Friday. Royal Bank Of Canada increased their target price on shares of Toronto-Dominion Bank from C$120.00 to C$128.00 in a report on Friday. Canaccord Genuity Group raised their price target on shares of Toronto-Dominion Bank from C$122.00 to C$126.00 in a research report on Friday. Finally, Barclays boosted their price objective on shares of Toronto-Dominion Bank from C$100.00 to C$114.00 and gave the company an “underweight” rating in a research report on Monday, November 24th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$118.14.

Toronto-Dominion Bank Trading Up 1.6%

TD stock traded up C$1.90 during mid-day trading on Friday, hitting C$121.99. 2,481,790 shares of the company were exchanged, compared to its average volume of 7,114,264. The firm has a fifty day simple moving average of C$113.94 and a 200 day simple moving average of C$105.23. The company has a market capitalization of C$208.26 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98. Toronto-Dominion Bank has a twelve month low of C$73.22 and a twelve month high of C$122.24.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings results on Thursday, December 4th. The company reported C$2.18 EPS for the quarter. Toronto-Dominion Bank had a return on equity of 7.84% and a net margin of 15.80%.The business had revenue of C$16.03 billion during the quarter. As a group, sell-side analysts anticipate that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Nathalie Palladitcheff bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was purchased at an average price of C$112.64 per share, for a total transaction of C$112,640.00. Following the transaction, the director directly owned 3,292 shares of the company’s stock, valued at approximately C$370,810.88. This represents a 43.63% increase in their position. Also, insider Ajai Bambawale sold 39,376 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of C$112.07, for a total transaction of C$4,412,868.32. Insiders sold a total of 84,384 shares of company stock valued at $9,456,915 over the last three months. Corporate insiders own 0.08% of the company’s stock.

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.