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

Key Points

• TD shares crossed above their 200-day moving average, reaching C$167.63 versus the C$160.28 average, with trading volume of about 8 million shares.
• Analyst sentiment is generally positive: seven analysts rate the stock a Buy, three recommend Hold and one recommends Sell, producing a consensus “Moderate Buy” rating and an average price target of C$171.08.
• TD reported quarterly EPS of C$2.77 on C$16.93 billion in revenue and declared a quarterly dividend of $1.12 per share, equivalent to a 2.7% annualized yield.

Shares of The Toronto-Dominion Bank (TSE:TD - Get Free Report) 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TD. National Bank Financial boosted their price objective on shares of Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the stock an "outperform" rating in a report on Sunday, August 30th. Desjardins set a C$183.00 target price on shares of Toronto-Dominion Bank and gave the company a "buy" rating in a report on Wednesday, September 2nd. Raymond James Financial increased their target price on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Royal Bank Of Canada lifted 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 report on Friday, August 28th. Finally, Canaccord Genuity Group lowered their price target on shares of Toronto-Dominion Bank from C$197.00 to C$196.00 in a research note on Thursday, September 3rd. Seven equities 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 company. According to data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of "Moderate Buy" and an average price target of C$171.08.

Toronto-Dominion Bank Trading Down 0.2%

The company has a market capitalization of C$273.64 billion, a PE ratio of 17.94, a PEG ratio of 1.22 and a beta of 0.84. The firm has a fifty day moving average of C$167.82 and a two-hundred day moving average of C$160.28.

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. 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, equities analysts expect that The Toronto-Dominion Bank will post 7.22 EPS for the current fiscal year.

Toronto-Dominion Bank Announces Dividend

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

Insider Buying and Selling at Toronto-Dominion Bank

In other news, insider Kelvin Vi Luan Tran sold 8,000 shares of the firm'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 transaction, the insider owned 23,877 shares in the company, valued at approximately 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.

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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