Price Don’t Lie: What’s in Toronto-Dominion Bank After Reaching 52-Week High?

Price Don't Lie: What's in Toronto Dominion Bank After Reaching 52 Week High?

The stock of Toronto-Dominion Bank (NYSE:TD) hit a new 52-week high and has $78.27 target or 66.00% above today’s $47.15 share price. The 8 months bullish chart indicates low risk for the $88.23 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $78.27 price target is reached, the company will be worth $58.23 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 558,551 shares traded hands. Toronto-Dominion Bank (NYSE:TD) has risen 6.02% since April 19, 2016 and is uptrending. It has outperformed by 2.16% the S&P500.

Toronto-Dominion Bank (NYSE:TD) Ratings Coverage

Out of 10 analysts covering TD Bank (NYSE:TD), 6 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 60% are positive. TD Bank has been the topic of 18 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, August 31 by BMO Capital Markets. On Friday, August 26 the stock rating was downgraded by IBC to “Sector Performer”. The rating was maintained by RBC Capital Markets on Friday, August 28 with “Outperform”. Bank of America initiated the shares of TD in a report on Tuesday, November 1 with “Buy” rating. The firm has “Neutral” rating given on Monday, September 21 by Credit Suisse. Scotia Capital maintained the stock with “Sector Perform” rating in Friday, August 28 report. The firm earned “Outperform” rating on Tuesday, May 3 by Credit Suisse. The firm has “Buy” rating by Citigroup given on Wednesday, September 14.

According to Zacks Investment Research, “Toronto Dominion Bank is a Canadian chartered bank and offers a wide range of business and consumer services. These services include checking and savings accounts, credit cards, mortgage and student loans,trusts, wills, estate planning,investment management services and financial and advisory services.”

More notable recent Toronto-Dominion Bank (NYSE:TD) news were published by: Business.Financialpost.com which released: “Toronto-Dominion Bank raising rates, variable rate mortgage customers to face …” on November 01, 2016, also Bloomberg.com with their article: “TD Ameritrade, TD Bank Said Near $4 Billion Scottrade Deal” published on October 23, 2016, Fool.ca published: “Toronto-Dominion Bank: The Right Time to Buy?” on October 31, 2016. More interesting news about Toronto-Dominion Bank (NYSE:TD) were released by: Fool.ca and their article: “Why Toronto-Dominion Bank Is the Best of the Big 5” published on October 28, 2016 as well as Prnewswire.com‘s news article titled: “TD Bank Invests in Affordable Housing for Seniors and Homeless Veterans with …” with publication date: November 14, 2016.

TD Company Profile

The Toronto-Dominion Bank (the Bank), incorporated on June 22, 1998, operates as a bank in North America. The Bank is an online financial services firm, with approximately 10.2 million online and mobile customers. The Bank conducts its business through the divisions, which include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial services and products to clients in the Canadian personal and commercial banking businesses. The U.S. Retail segment consists of the Bank’s retail and commercial banking activities operating under the brand TD Bank, and wealth management services in the United States. The Wholesale Banking segment provides a range of capital markets, investment banking, and corporate banking services and products, including underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures, and meeting the daily trading, funding and investment needs of its clients. The Corporate segment includes the impact of treasury and balance sheet management activities.

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