Toronto Dominion Bank (NYSE:TD) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• TD shares rose above their 200-day moving average, reaching $122.28 versus the $111.56 average, though they later traded around $120.62.
• Analyst sentiment is generally positive: Toronto-Dominion has a “Moderate Buy” consensus rating and a $156 average price target, with RBC raising its target to $156 and assigning an “outperform” rating.
• The bank exceeded quarterly expectations with EPS of $1.98 and revenue of $12.07 billion, while declaring a quarterly dividend of $1.12 per share, representing a 3.7% yield.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $111.56 and traded as high as $122.28. Toronto Dominion Bank shares last traded at $120.6210, with a volume of 1,995,685 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods started coverage on Toronto Dominion Bank in a report on Friday, August 21st. They set a "market perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Toronto Dominion Bank currently has an average rating of "Moderate Buy" and an average target price of $156.00.

Toronto Dominion Bank Trading Down 0.7%

The firm has a market cap of $198.40 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.21 and a beta of 0.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a fifty day moving average of $120.80 and a 200-day moving average of $111.56.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.24. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%.The business had revenue of $12.07 billion during the quarter, compared to analyst estimates of $10.70 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Toronto Dominion Bank's payout ratio is 46.81%.

Institutional Trading of Toronto Dominion Bank

Large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Toronto Dominion Bank during the 4th quarter valued at about $2,125,963,000. Geode Capital Management LLC increased its stake in shares of Toronto Dominion Bank by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank's stock valued at $1,610,733,000 after purchasing an additional 968,122 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Toronto Dominion Bank by 41.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank's stock valued at $1,121,660,000 after buying an additional 3,496,645 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Toronto Dominion Bank by 4.3% during the fourth quarter. Legal & General Group Plc now owns 10,148,324 shares of the bank's stock valued at $957,711,000 after buying an additional 419,105 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Toronto Dominion Bank by 8.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,565,982 shares of the bank's stock worth $705,950,000 after buying an additional 589,316 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

About Toronto Dominion Bank

Toronto-Dominion Bank, operating under the TD name, is a Canadian financial services company headquartered in Toronto, Ontario. The bank traces its history to the formation of The Toronto-Dominion Bank in 1955 through the merger of The Bank of Toronto, founded in 1855, and The Dominion Bank, founded in 1869.

TD provides a broad range of banking and financial services to individuals, businesses and institutions. Its offerings include personal and commercial deposit accounts, mortgages, consumer and business lending, credit cards, payment services, investment products, insurance and wealth management.

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