Toronto-Dominion Bank (TSE:TD) Share Price Crosses Above 200-Day Moving Average – Here’s Why

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$160.28 and traded as high as C$167.63. Toronto-Dominion Bank shares last traded at C$167.57, with a volume of 8,016,200 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TD shares. National Bank Financial boosted their target price on shares of Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the company an “outperform” rating in a research note on Sunday, August 30th. Jefferies Financial Group raised their price target on shares of Toronto-Dominion Bank from C$164.00 to C$165.00 in a research note on Thursday, September 3rd. Raymond James Financial raised their price target on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Desjardins set a C$183.00 price target on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Finally, Barclays lifted their price target on shares of Toronto-Dominion Bank from C$164.00 to C$167.00 and gave the stock an “underweight” rating in a report on Friday, August 28th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$171.08.

Toronto-Dominion Bank Stock Performance

The company has a market cap of C$278.04 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.22 and a beta of 0.84. The firm has a 50 day moving average price of C$167.82 and a two-hundred day moving average price of C$160.59.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last announced its quarterly earnings data on Thursday, August 27th. The company reported C$2.77 earnings per share (EPS) for the quarter. The business had revenue of C$16.93 billion for the quarter. Toronto-Dominion Bank had a return on equity of 12.83% and a net margin of 14.36%. On average, sell-side analysts predict that The Toronto-Dominion Bank will post 7.22 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Saturday, October 31st will be paid a $1.12 dividend. The ex-dividend date is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 2.6%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 46.36%.

Insider Buying and Selling at Toronto-Dominion Bank

In other news, insider Kelvin Vi Luan Tran sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of C$172.92, for a total value of C$1,383,360.00. Following the sale, the insider owned 23,877 shares of the company’s stock, valued at C$4,128,810.84. The trade was a 25.10% decrease in their ownership of the stock. 0.08% of the stock is owned by insiders.

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.