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 Monday . The company traded as high as C$157.16 and last traded at C$156.93, with a volume of 149084 shares. The stock had previously closed at C$153.15.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TD. Royal Bank Of Canada decreased their price objective on shares of Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. BMO Capital Markets increased their price target on Toronto-Dominion Bank from C$135.00 to C$144.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Jefferies Financial Group boosted their price objective on Toronto-Dominion Bank from C$134.00 to C$142.00 in a report on Wednesday, May 20th. Desjardins upped their price objective on Toronto-Dominion Bank from C$145.00 to C$154.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from C$142.00 to C$150.00 in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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$260.97 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92. The business has a fifty day moving average of C$139.39 and a 200-day moving average of C$130.88.

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

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 30th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, April 9th. Toronto-Dominion Bank’s payout ratio is presently 34.25%.

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.