Toronto-Dominion Bank (TSE:TD) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$127.19 and traded as high as C$146.40. Toronto-Dominion Bank shares last traded at C$146.33, with a volume of 6,340,227 shares trading hands.

Wall Street Analysts Forecast Growth

TD has been the subject of several recent analyst reports. National Bank Financial increased their price objective on Toronto-Dominion Bank from C$138.00 to C$146.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Jefferies Financial Group reduced their target price on shares of Toronto-Dominion Bank from C$130.00 to C$128.00 in a research note on Wednesday, February 11th. Canaccord Genuity Group increased their target price on shares of Toronto-Dominion Bank from C$147.00 to C$149.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. BMO Capital Markets lifted their price target 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. Finally, Royal Bank Of Canada reduced their price target on shares of Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$139.00.

Toronto-Dominion Bank Stock Performance

The stock has a market cap of C$244.20 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.22 and a beta of 0.86. The company has a 50-day simple moving average of C$134.84 and a 200-day simple moving average of C$127.19.

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

Toronto-Dominion Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a yield of 3.0%. Toronto-Dominion Bank’s dividend payout ratio is currently 34.25%.

Toronto-Dominion Bank Company Profile

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.