Price Action Alert: Toronto-Dominion Bank Sets 52-Week High; Strong Momentum for Holders

Price Action Alert: Toronto Dominion Bank Sets 52 Week High; Strong Momentum for Holders

The stock of Toronto-Dominion Bank (NYSE:TD) hit a new 52-week high and has $49.48 target or 4.00% above today’s $47.58 share price. The 9 months bullish chart indicates low risk for the $88.57 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $49.48 price target is reached, the company will be worth $3.54 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. The stock decreased 0.23% or $0.11 during the last trading session, hitting $47.58. About 1.24 million shares traded hands. Toronto-Dominion Bank (NYSE:TD) has risen 8.68% since April 25, 2016 and is uptrending. It has outperformed by 2.67% the S&P500.

Analysts await Toronto-Dominion Bank (NYSE:TD) to report earnings on December, 1 before the open. They expect $0.91 earnings per share, up 4.60% or $0.04 from last year’s $0.87 per share. TD’s profit will be $1.69B for 13.07 P/E if the $0.91 EPS becomes a reality. After $0.97 actual earnings per share reported by Toronto-Dominion Bank for the previous quarter, Wall Street now forecasts -6.19% negative EPS growth.

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 stock has “Buy” rating given by Bank of America on Tuesday, November 1. The stock of Toronto-Dominion Bank (NYSE:TD) earned “Neutral” rating by Credit Suisse on Monday, September 21. The company was maintained on Wednesday, September 14 by Citigroup. The stock has “Outperform” rating given by Credit Suisse on Tuesday, May 3. The stock of Toronto-Dominion Bank (NYSE:TD) earned “Sector Perform” rating by Scotia Capital on Friday, August 28. BMO Capital Markets maintained the stock with “Outperform” rating in Monday, August 31 report. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, August 28. The firm has “Sector Performer” rating given on Friday, August 26 by IBC.

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 important 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 Fool.ca published article titled: “Toronto-Dominion Bank: The Right Time to Buy?”, Wsj.com published: “Canadian Bank Earnings: What to Watch” on November 28, 2016. More interesting news about Toronto-Dominion Bank (NYSE:TD) was released by: Bnn.ca and their article: “TD’s latest takeover sheds light on potential successor for CEO Bharat Masrani” with publication date: November 25, 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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