Toronto-Dominion Bank (TSE:TD) Sets New 1-Year High – Still a Buy?

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) hit a new 52-week high on Tuesday . The stock traded as high as C$150.22 and last traded at C$148.09, with a volume of 326451 shares changing hands. The stock had previously closed at C$148.30.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TD shares. Royal Bank Of Canada cut their price objective on shares of Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. BMO Capital Markets increased their price objective on shares of Toronto-Dominion Bank from C$135.00 to C$144.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Raymond James Financial upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$141.00 to C$152.50 in a report on Tuesday, May 12th. Desjardins increased their price objective on shares of Toronto-Dominion Bank from C$145.00 to C$154.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Canaccord Genuity Group increased their price objective on shares of Toronto-Dominion Bank from C$149.00 to C$158.00 and gave the company a “buy” rating in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Toronto-Dominion Bank has an average rating of “Moderate Buy” and an average price target of C$144.96.

Toronto-Dominion Bank Price Performance

The stock has a market cap of C$251.11 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.22 and a beta of 0.92. The company’s 50 day simple moving average is C$138.45 and its 200 day simple moving average is C$130.34.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its earnings results on Thursday, February 26th. The company reported C$2.44 EPS for the quarter. Toronto-Dominion Bank had a net margin of 19.11% and a return on equity of 17.26%. The firm had revenue of C$16.63 billion during the quarter. On average, equities research analysts predict that The Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Toronto-Dominion Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, April 9th. Toronto-Dominion Bank’s dividend payout ratio is presently 34.25%.

About Toronto-Dominion Bank

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.