Toronto-Dominion Bank (TSE:TD) Hits New 1-Year High – Should You Buy?

Shares of The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) reached a new 52-week high during trading on Tuesday . The company traded as high as C$171.60 and last traded at C$171.42, with a volume of 144809 shares. The stock had previously closed at C$171.01.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TD shares. National Bank Financial boosted their price objective on Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Scotiabank boosted their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Desjardins upped their target price on shares of Toronto-Dominion Bank from C$154.00 to C$160.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Canaccord Genuity Group set a C$169.00 target price on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Barclays lifted their price target on shares of Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the company an “underweight” rating in a research note on Friday, May 29th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$150.08.

Toronto-Dominion Bank Price Performance

The company has a market cap of C$284.88 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.22 and a beta of 0.92. The business’s 50 day moving average is C$155.98 and its 200 day moving average is C$139.97.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its earnings results on Thursday, May 28th. The company reported C$2.38 earnings per share (EPS) for the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%.The company had revenue of C$16.04 billion for the quarter. As a group, equities research analysts forecast that The Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 31st will be paid a $1.12 dividend. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 2.6%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 50.00%.

Insider Buying and Selling

In other Toronto-Dominion Bank news, insider Paul Martyn Clark sold 27,649 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the sale, the insider directly owned 260 shares of the company’s stock, valued at approximately C$41,917.20. This represents a 99.07% decrease in their ownership of the stock. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$156.61, for a total transaction of C$1,330,871.78. Following the completion of the transaction, the insider owned 26,677 shares of the company’s stock, valued at approximately C$4,177,884.97. This represents a 24.16% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

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.