Toronto-Dominion Bank (TSE:TD) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Toronto-Dominion Bank shares crossed above their 200-day moving average, reaching C$167.45 and last trading near C$167.39, compared with a 200-day average of C$157.96.
• Analyst sentiment is broadly positive: TD has a “Moderate Buy” consensus rating from 11 analysts, with a consensus price target of C$171.08 and several recently raised targets as high as C$196.
• TD reported quarterly EPS of C$2.77 on C$16.93 billion in revenue and declared a quarterly dividend of C$1.12, equivalent to an annualized C$4.48 payout and a 2.7% yield.

Shares of The Toronto-Dominion Bank (TSE:TD - Get Free Report) 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$157.96 and traded as high as C$167.45. Toronto-Dominion Bank shares last traded at C$167.39, with a volume of 5,906,081 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on TD shares. Raymond James Financial upped their target price on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Desjardins set a C$183.00 price target on shares of Toronto-Dominion Bank and gave the company a "buy" rating in a report on Wednesday, September 2nd. Royal Bank Of Canada boosted their price target on shares of Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Jefferies Financial Group upped their price target on shares of Toronto-Dominion Bank from C$164.00 to C$165.00 in a report on Thursday, September 3rd. Finally, National Bank Financial increased their price objective on Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the stock an "outperform" rating in a research report on Sunday, August 30th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$171.08.

Toronto-Dominion Bank Stock Performance

The business has a 50 day moving average price of C$168.26 and a two-hundred day moving average price of C$157.96. The company has a market cap of C$274.27 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.22 and a beta of 0.81.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last posted its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share (EPS) for the quarter. Toronto-Dominion Bank had a return on equity of 12.83% and a net margin of 14.36%.The business had revenue of C$16.93 billion for the quarter. As a group, research analysts expect that The Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Toronto-Dominion Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Saturday, October 31st will be given a $1.12 dividend. The ex-dividend date is Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.7%. Toronto-Dominion Bank's payout ratio is presently 46.36%.

Insider Activity at Toronto-Dominion Bank

In related news, insider Kelvin Vi Luan Tran sold 8,000 shares of the firm's stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of C$172.92, for a total value of C$1,383,360.00. Following the sale, the insider directly owned 23,877 shares of the company's stock, valued at C$4,128,810.84. This trade represents a 25.10% decrease in their ownership of the stock. Company insiders own 0.08% of the company's stock.

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.

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