Toronto-Dominion Bank (TSE:TD) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• TD shares rose above their 200-day moving average, reaching C$166.33 and closing near C$166.31, compared with a 200-day average of C$153.96.
• Analysts remain broadly positive: seven rate the stock a Buy, three a Hold and one a Sell, producing a “Moderate Buy” consensus and an average target price of C$171.08.
• Toronto-Dominion Bank reported quarterly EPS of C$2.77 on C$16.93 billion in revenue and increased its quarterly dividend to C$1.12, or C$4.48 annually, yielding about 2.7%.

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$153.96 and traded as high as C$166.33. Toronto-Dominion Bank shares last traded at C$166.31, with a volume of 3,424,505 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TD shares. Royal Bank Of Canada upped their target price on shares of Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. Scotiabank raised their price target on shares of Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the company a "sector outperform" rating in a research report on Friday, August 28th. Canaccord Genuity Group decreased their price target on shares of Toronto-Dominion Bank from C$197.00 to C$196.00 in a research report on Thursday, September 3rd. Raymond James Financial boosted 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. Finally, Desjardins set a C$183.00 price objective on Toronto-Dominion Bank and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Toronto-Dominion Bank has a consensus rating of "Moderate Buy" and a consensus target price of C$171.08.

Toronto-Dominion Bank Price Performance

The stock's 50 day moving average is C$168.72 and its two-hundred day moving average is C$153.96. The stock has a market capitalization of C$272.50 billion, a PE ratio of 17.81, 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 issued its earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share for the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. The firm had revenue of C$16.93 billion for the quarter. On average, equities analysts predict that The Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 31st were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, July 10th. This is a positive change from Toronto-Dominion Bank's previous quarterly dividend of $1.08. Toronto-Dominion Bank's dividend payout ratio (DPR) is 46.36%.

Toronto-Dominion Bank Company Profile

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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