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

Key Points

• Toronto-Dominion Bank's stock recently crossed above its 200-day moving average, trading at C$102.35 with a high of C$103.11 during the session.
• Several brokerages have updated their target prices for Toronto-Dominion Bank, with Jefferies increasing it to C$117.00, while the stock currently has a consensus rating of "Hold" and an average target price of C$95.31.
• The bank announced a quarterly dividend of $1.05, yielding 4.1%, and has a dividend payout ratio of 80.84%.

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD's share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$91.16 and traded as high as C$103.11. Toronto-Dominion Bank shares last traded at C$102.35, with a volume of 2,877,590 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on TD shares. Scotiabank upgraded Toronto-Dominion Bank to a "hold" rating in a report on Wednesday, May 14th. Canaccord Genuity Group set a C$101.00 price target on Toronto-Dominion Bank and gave the company a "buy" rating in a research note on Tuesday, June 24th. CIBC raised 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. Desjardins raised shares of Toronto-Dominion Bank from a "hold" rating to a "buy" rating and upped their target price for the company from C$97.00 to C$107.00 in a research report on Wednesday, August 13th. Finally, Jefferies Financial Group increased their target price 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, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank currently has an average rating of "Hold" and a consensus price target of C$95.31.

Toronto-Dominion Bank Trading Up 0.3%

The company has a market cap of C$179.00 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.22 and a beta of 0.82. The firm's fifty day simple moving average is C$100.37 and its 200 day simple moving average is C$91.48.

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 given a dividend of $1.05 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.1%. Toronto-Dominion Bank's payout ratio is 80.84%.

Insider Transactions at Toronto-Dominion Bank

In other Toronto-Dominion Bank news, Senior Officer Kelvin Vi Luan Tran sold 9,612 shares of Toronto-Dominion Bank stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$94.98, for a total transaction of C$912,947.76. Also, Director Theresa Lynn Currie sold 48,792 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of C$94.64, for a total value of C$4,617,674.88. Following the completion of the sale, the director directly owned 163 shares of the company's stock, valued at C$15,426.32. The trade was a 99.67% decrease in their ownership of the stock. Over the last quarter, insiders sold 81,612 shares of company stock worth $7,748,610. 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.