Toronto-Dominion Bank (TSE:TD) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Toronto-Dominion Bank shares rose above their 200-day moving average, trading as high as C$169.24 and last changing hands at C$167.87, signaling improved short-term technical momentum.
• Several analysts recently raised price targets on TD, and the stock currently carries a consensus rating of “Moderate Buy” with an average target of C$151.42.
• The bank increased its quarterly dividend to C$1.12 per share from C$1.08, implying an annualized yield of about 2.7%; meanwhile, insiders recently sold shares.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD's stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$144.78 and traded as high as C$169.24. Toronto-Dominion Bank shares last traded at C$167.87, with a volume of 4,215,059 shares.

Analyst Ratings Changes

Several brokerages recently issued reports on TD. Jefferies Financial Group lifted their target price on Toronto-Dominion Bank from C$134.00 to C$142.00 in a research report on Wednesday, May 20th. National Bank Financial raised their price target on shares of Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Barclays lifted their price objective on Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the stock an "underweight" rating in a report on Friday, May 29th. Canadian Imperial Bank of Commerce boosted their target price on shares of Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Finally, Scotiabank upped their price target on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a "sector outperform" rating in a research report on Tuesday, June 16th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$151.42.

Toronto-Dominion Bank Stock Down 1.7%

The stock has a market cap of C$277.33 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.22 and a beta of 0.89. The company has a 50-day simple moving average of C$164.15 and a two-hundred day simple moving average of C$144.78.

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

Toronto-Dominion Bank Increases Dividend

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

Insider Activity at Toronto-Dominion Bank

In other news, insider Paul Martyn Clark sold 27,649 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 260 shares of the company's stock, valued at C$41,917.20. The trade was a 99.07% decrease in their position. 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 transaction of C$1,330,871.78. Following the completion of the transaction, 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 ownership of the stock. 0.08% of the stock is currently owned by company insiders.

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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