Toronto-Dominion Bank (TSE:TD) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price target increased by equities researchers at Canaccord Genuity Group from C$109.00 to C$113.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 9.58% from the company’s current price.

A number of other analysts have also issued reports on TD. Scotiabank upgraded Toronto-Dominion Bank to a “hold” rating in a report on Wednesday, May 14th. National Bankshares increased their target price on Toronto-Dominion Bank from C$99.00 to C$100.00 and gave the company a “sector perform” rating in a report on Friday. Desjardins increased their target price on Toronto-Dominion Bank from C$107.00 to C$110.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group upped their price target on shares of Toronto-Dominion Bank from C$103.00 to C$117.00 in a research note on Wednesday, August 13th. Finally, CIBC upped their price target on shares of Toronto-Dominion Bank from C$99.00 to C$109.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$99.92.

Toronto-Dominion Bank Stock Up 2.8%

TD opened at C$103.12 on Friday. The stock has a fifty day moving average of C$101.33 and a 200-day moving average of C$92.54. The firm has a market capitalization of C$177.62 billion, a P/E ratio of 10.70, a PEG ratio of 1.22 and a beta of 0.86. Toronto-Dominion Bank has a 12-month low of C$73.22 and a 12-month high of C$108.68.

Insiders Place Their Bets

In other Toronto-Dominion Bank news, Senior Officer Kelvin Vi Luan Tran sold 9,612 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of C$94.98, for a total transaction of C$912,947.76. Also, Senior Officer Paul Martyn Clark sold 16,936 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of C$94.87, for a total transaction of C$1,606,718.32. Following the transaction, the insider directly owned 260 shares in the company, valued at C$24,666.20. The trade was a 98.49% decrease in their ownership of the stock. Insiders have sold 32,820 shares of company stock valued at $3,130,935 over the last three months. 0.08% of the stock is currently owned by insiders.

Toronto-Dominion Bank Company Profile

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.