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

Key Points

• Toronto-Dominion Bank's stock surpassed its two hundred-day moving average of C$94.24, trading at C$107.98 with a high of C$108.38.
• Various analysts have revised their price targets for the bank, with Desjardins setting a new target at C$110.00 while maintaining a "buy" rating.
• The bank announced a quarterly dividend of $1.05, translating to an annualized yield of 3.9% and a dividend payout ratio of 35.70%.

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$94.24 and traded as high as C$108.38. Toronto-Dominion Bank shares last traded at C$107.98, with a volume of 2,524,200 shares traded.

Analysts Set New Price Targets

Several brokerages have issued reports on TD. National Bankshares upped their price target on shares of Toronto-Dominion Bank from C$99.00 to C$100.00 and gave the company a "sector perform" rating in a research report on Friday, August 29th. Barclays raised their price target on shares of Toronto-Dominion Bank from C$95.00 to C$97.00 and gave the company an "underweight" rating in a research note on Friday, August 29th. Desjardins raised their price target on shares of Toronto-Dominion Bank from C$107.00 to C$110.00 and gave the company a "buy" rating in a research note on Friday, August 29th. CIBC raised 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. Finally, Jefferies Financial Group raised their price target on shares of Toronto-Dominion Bank from C$103.00 to C$117.00 in a research note on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Toronto-Dominion Bank currently has an average rating of "Hold" and an average price target of C$100.17.

Toronto-Dominion Bank Price Performance

The company's 50-day moving average price is C$102.83 and its two-hundred day moving average price is C$94.68. The company has a market capitalization of C$189.88 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.22 and a beta of 0.87.

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 31st were given a dividend of $1.05 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.20 annualized dividend and a dividend yield of 3.9%. Toronto-Dominion Bank's dividend payout ratio is 35.70%.

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.