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$169.23 and closing near C$168.04, compared with a 200-day average of C$146.23.
• Analyst sentiment is a “Moderate Buy”, with seven Buy, two Hold and one Sell ratings; the consensus price target is C$151.42, though Canaccord Genuity raised its target to C$185.
• TD increased its quarterly dividend to C$1.12 per share, or C$4.48 annually, representing a 2.7% yield. Recent results included C$2.38 in quarterly EPS and C$16.04 billion in revenue, while two insiders sold shares.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$146.23 and traded as high as C$169.23. Toronto-Dominion Bank shares last traded at C$168.04, with a volume of 2,853,963 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the company an "underweight" rating in a research report on Friday, May 29th. National Bank Financial lifted their target price on Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Raymond James Financial boosted their target price on Toronto-Dominion Bank from C$152.50 to C$155.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. Desjardins increased their price target on Toronto-Dominion Bank from C$154.00 to C$160.00 and gave the company a "buy" rating in a report on Friday, May 29th. Finally, Canaccord Genuity Group raised their price target on Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$151.42.

Toronto-Dominion Bank Trading Up 0.2%

The company's 50-day moving average is C$166.25 and its 200 day moving average is C$146.23. The stock has a market capitalization of C$277.61 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last released its earnings results on Thursday, May 28th. The company reported C$2.38 earnings per share for the quarter. Toronto-Dominion Bank had a net margin of 13.21% and a return on equity of 11.85%. The company had revenue of C$16.04 billion for the quarter. Sell-side analysts forecast that The Toronto-Dominion Bank will post 7.2160149 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 31st were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 2.7%. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $1.08. Toronto-Dominion Bank's payout ratio is presently 50.00%.

Insider Activity

In other news, insider Paul Martyn Clark sold 27,649 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the completion of the transaction, the insider directly owned 260 shares in the company, valued at C$41,917.20. This trade represents a 99.07% decrease in their ownership of the stock. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of Toronto-Dominion Bank stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the sale, the insider directly owned 26,677 shares of the company's stock, valued at C$4,177,884.97. This trade represents a 24.16% decrease in their position. 0.08% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.