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

Key Points

• Toronto-Dominion Bank's stock price has surpassed its 200-day moving average, indicating a robust trading performance with shares peaking at C$101.15.
• The bank announced a quarterly dividend of $1.05 per share, translating to an annualized yield of 4.2% and a payout ratio of 80.84%.
• Recent analyst reports show mixed sentiments, with one sell rating, six hold ratings, and four buy ratings, resulting in a consensus price target of C$90.85.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD's share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$90.16 and traded as high as C$101.15. Toronto-Dominion Bank shares last traded at C$101.04, with a volume of 7,382,116 shares changing hands.

Analyst Upgrades and Downgrades

TD has been the topic of a number of research analyst reports. National Bankshares set a C$80.00 price objective on shares of Toronto-Dominion Bank and gave the stock a "sector perform" rating in a report on Thursday, May 22nd. Barclays lifted their price target on Toronto-Dominion Bank from C$83.00 to C$91.00 in a research note on Monday, June 9th. CIBC upped their price objective on Toronto-Dominion Bank from C$96.00 to C$99.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Canaccord Genuity Group set a C$101.00 target price on Toronto-Dominion Bank and gave the company a "buy" rating in a research report on Tuesday, June 24th. Finally, Scotiabank raised Toronto-Dominion Bank to a "hold" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Toronto-Dominion Bank currently has a consensus rating of "Hold" and a consensus price target of C$90.85.

Toronto-Dominion Bank Stock Up 0.5%

The stock's fifty day moving average is C$99.29 and its two-hundred day moving average is C$90.24. The firm has a market capitalization of C$177.26 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.22 and a beta of 0.82.

Toronto-Dominion Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 31st were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, July 10th. Toronto-Dominion Bank's dividend payout ratio is presently 80.84%.

Insiders Place Their Bets

In other Toronto-Dominion Bank news, Director Ana Arsov purchased 3,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were purchased at an average price of C$94.49 per share, with a total value of C$283,470.00. Also, Senior Officer Melanie Burns sold 6,272 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of C$97.46, for a total value of C$611,269.12. Insiders sold a total of 81,612 shares of company stock worth $7,748,610 in the last three months. Insiders own 0.08% of the company's stock.

Toronto-Dominion Bank Company Profile

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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