Toronto-Dominion Bank (TSE:TD) Given New C$164.00 Price Target at Canadian Imperial Bank of Commerce

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its target price increased by Canadian Imperial Bank of Commerce from C$151.00 to C$164.00 in a research report released on Friday morning,BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on TD. BMO Capital Markets lifted their price target on shares of Toronto-Dominion Bank from C$135.00 to C$144.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Canaccord Genuity Group increased their price objective on shares of Toronto-Dominion Bank from C$158.00 to C$169.00 and gave the company a “buy” rating in a report on Friday. National Bank Financial raised their price objective on shares of Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James Financial upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “moderate buy” rating and upped their target price for the company from C$141.00 to C$152.50 in a research report on Tuesday, May 12th. Finally, Royal Bank Of Canada cut their price target on Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$148.50.

Toronto-Dominion Bank Price Performance

Shares of TD opened at C$157.75 on Friday. The company has a market capitalization of C$263.26 billion, a P/E ratio of 12.77, a PEG ratio of 1.22 and a beta of 0.92. Toronto-Dominion Bank has a one year low of C$94.05 and a one year high of C$157.75. The business’s 50 day simple moving average is C$142.06 and its 200-day simple moving average is C$132.25.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its quarterly earnings data on Thursday, May 28th. The company reported C$2.38 EPS for the quarter. Toronto-Dominion Bank had a net margin of 13.24% and a return on equity of 11.85%. The firm had revenue of C$16.04 billion for the quarter. On average, sell-side analysts anticipate that Toronto-Dominion Bank will post 7.2160149 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th were issued a $1.08 dividend. The ex-dividend date was Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.7%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 34.25%.

Toronto-Dominion Bank News Summary

Here are the key news stories impacting Toronto-Dominion Bank this week:

• Positive Sentiment: Toronto-Dominion Bank beat quarterly earnings expectations, reporting C$2.38 EPS on revenue of C$16.04 billion, which helped reinforce confidence in the bank’s earnings power. TD beats analysts’ earnings expectations, hikes dividend
• Positive Sentiment: The company also raised its dividend, a sign management has increasing confidence in cash generation and capital strength. TD beats analysts’ earnings expectations, hikes dividend
• Positive Sentiment: Results from Canadian banking, capital markets, and wealth management were strong, with reports noting a record quarter for wealth and improved activity in capital markets amid volatile conditions. TD’s Earnings Beat Caps Off Strong Quarter for Canadian Banks
• Positive Sentiment: Multiple brokerages raised their price targets, including Desjardins to C$160, National Bank Financial to C$162, Canaccord to C$169, and Raymond James to C$155, signaling improving analyst sentiment around TD’s outlook.
• Neutral Sentiment: Canadian Imperial Bank of Commerce raised its target to C$164 but kept a neutral rating, suggesting the stock may be fairly valued after the rally.
• Negative Sentiment: Barclays remained cautious with an underweight rating, even while lifting its target to C$140, highlighting that not all analysts see upside at current levels.

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.