Toronto-Dominion Bank (TSE:TD) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• The share price of Toronto-Dominion Bank (TSE:TD) has surpassed its 200-day moving average, reaching C$112.34, with a recent high of C$113.30 during trading.
• Analysts are generally optimistic, with five upgrading their ratings to Buy and increasing price targets, with Royal Bank Of Canada now at C$120.00.
• A recent quarterly dividend of $1.05 per share was declared, which will be paid to shareholders on October 31st, indicating a strong dividend yield of 3.7%.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD's share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$96.91 and traded as high as C$113.30. Toronto-Dominion Bank shares last traded at C$112.34, with a volume of 10,929,330 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada upgraded shares of Toronto-Dominion Bank from a "hold" rating to a "moderate buy" rating and boosted their price target for the stock from C$93.00 to C$120.00 in a research note on Friday, October 3rd. CIBC boosted their price target on shares of Toronto-Dominion Bank from C$109.00 to C$112.00 in a research note on Friday, September 5th. National Bankshares set a C$100.00 target price on shares of Toronto-Dominion Bank and gave the stock a "sector perform" rating in a research report on Monday, September 22nd. Scotiabank upped their target price on shares of Toronto-Dominion Bank from C$95.00 to C$104.00 and gave the stock a "sector perform" rating in a research report on Friday, August 29th. Finally, Desjardins upped their target price on shares of Toronto-Dominion Bank from C$107.00 to C$110.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of C$105.50.

Toronto-Dominion Bank Price Performance

The firm's 50-day moving average price is C$105.28 and its 200 day moving average price is C$96.91. The firm has a market capitalization of C$196.80 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 1.22 and a beta of 0.95.

Toronto-Dominion Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 31st will be given a $1.05 dividend. The ex-dividend date is Friday, October 10th. This represents a $4.20 annualized dividend and a dividend yield of 3.7%. Toronto-Dominion Bank's dividend payout ratio is currently 35.70%.

Insider Activity at Toronto-Dominion Bank

In other news, Director Nathalie Palladitcheff acquired 1,000 shares of Toronto-Dominion Bank stock in a transaction that occurred on Monday, October 6th. The shares were acquired at an average price of C$112.64 per share, with a total value of C$112,640.00. Following the completion of the purchase, the director owned 3,292 shares of the company's stock, valued at approximately C$370,810.88. This represents a 43.63% increase in their position. Also, insider Ajai Bambawale sold 39,376 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of C$112.07, for a total transaction of C$4,412,868.32. Insiders have sold 84,384 shares of company stock worth $9,456,915 in the last three months. Insiders own 0.08% of the company's stock.

About Toronto-Dominion Bank

Toronto-Dominion is one of Canada's two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank's U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.

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