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

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its target price boosted by stock analysts at CIBC from C$122.00 to C$129.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 2.54% from the company’s previous close.

TD has been the topic of several other reports. BMO Capital Markets upped their price target on shares of Toronto-Dominion Bank from C$120.00 to C$128.00 in a report on Friday, December 5th. UBS Group upped their price objective on shares of Toronto-Dominion Bank from C$122.00 to C$126.00 in a report on Monday, December 8th. Canaccord Genuity Group boosted their price target on shares of Toronto-Dominion Bank from C$122.00 to C$126.00 in a research note on Friday, December 5th. Raymond James Financial lifted their price objective on shares of Toronto-Dominion Bank from C$119.00 to C$122.00 and gave the company a “market perform” rating in a report on Friday, December 5th. Finally, Scotiabank lifted their price target on shares of Toronto-Dominion Bank from C$114.00 to C$125.00 and gave the stock a “sector perform” rating in a research note on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$123.31.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock opened at C$125.80 on Thursday. The stock has a market cap of C$212.54 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.22 and a beta of 0.98. Toronto-Dominion Bank has a 1 year low of C$73.73 and a 1 year high of C$126.72. The firm’s 50-day moving average is C$115.48 and its two-hundred day moving average is C$106.60.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its quarterly earnings data on Thursday, December 4th. The company reported C$2.18 earnings per share for the quarter. Toronto-Dominion Bank had a return on equity of 7.84% and a net margin of 15.80%.The firm had revenue of C$16.03 billion during the quarter. On average, equities analysts expect that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Nathalie Palladitcheff purchased 1,000 shares of the stock in a transaction dated Monday, October 6th. The shares were acquired at an average cost of C$112.64 per share, for a total transaction of C$112,640.00. Following the acquisition, the director directly owned 3,292 shares in the company, valued at approximately C$370,810.88. The trade was a 43.63% increase in their position. Also, insider Ajai Bambawale sold 7,328 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was 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 of the company’s stock, valued at C$89,656. This trade represents a 90.16% decrease in their ownership of the stock. Insiders have sold a total of 84,384 shares of company stock valued at $9,456,915 in the last three months. Company insiders own 0.08% of the company’s stock.

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.