Toronto Dominion Bank (NYSE:TD) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• TD shares crossed above their 200-day moving average, reaching $118.35 compared with the $113.74 average, though the stock was last trading near $117.27 and down 0.5%.
• Analyst sentiment is moderately positive: MarketBeat reports an average rating of “Moderate Buy” and a consensus price target of $148, versus the current price.
• TD exceeded quarterly earnings expectations, reporting $1.98 EPS versus $1.74 expected and $12.07 billion in revenue. The bank also declared a quarterly C$1.12 dividend, representing a 3.8% annualized yield.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $113.74 and traded as high as $118.35. Toronto Dominion Bank shares last traded at $117.2670, with a volume of 3,664,677 shares.

Wall Street Analysts Forecast Growth

TD has been the subject of several analyst reports. Keefe, Bruyette & Woods initiated coverage on Toronto Dominion Bank in a research report on Friday, August 21st. They set a "market perform" rating for the company. Weiss Ratings upgraded shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, September 28th. Finally, Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Toronto Dominion Bank presently has an average rating of "Moderate Buy" and a consensus target price of $148.00.

Toronto Dominion Bank Trading Down 0.5%

The company's fifty day simple moving average is $120.46 and its two-hundred day simple moving average is $113.74. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $192.88 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.17 and a beta of 0.75.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $12.07 billion during the quarter, compared to the consensus estimate of $10.70 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts forecast that Toronto Dominion Bank will post 7.04 earnings per share for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Friday, October 9th will be paid a C$1.12 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 46.81%.

Institutional Trading of Toronto Dominion Bank

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in Toronto Dominion Bank by 1.0% during the 3rd quarter. Versant Capital Management Inc now owns 11,000 shares of the bank's stock worth $1,293,000 after buying an additional 113 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Toronto Dominion Bank by 8.2% during the 2nd quarter. QRG Capital Management Inc. now owns 8,727 shares of the bank's stock worth $1,060,000 after acquiring an additional 658 shares during the last quarter. Andra AP fonden bought a new stake in Toronto Dominion Bank in the 2nd quarter valued at $32,856,000. Wellington Altus USA Inc. lifted its holdings in Toronto Dominion Bank by 3.6% during the 2nd quarter. Wellington Altus USA Inc. now owns 8,449 shares of the bank's stock valued at $1,026,000 after purchasing an additional 292 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Toronto Dominion Bank by 1.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,508 shares of the bank's stock valued at $2,855,000 after purchasing an additional 379 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

About Toronto Dominion Bank

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The bank was formed in 1955 through the merger of The Bank of Toronto and The Dominion Bank and serves customers in Canada and the United States.

TD provides a broad range of banking and financial services, including personal and commercial deposit accounts, lending, mortgages, credit cards, payments, investment products and financial advice. Its Canadian operations serve individuals, businesses and institutions, while its U.S.

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