Toronto-Dominion Bank (TSE:TD) Shares Break Above 200-Day Moving Average – Here’s What Happened

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$157.96 and traded as high as C$167.45. Toronto-Dominion Bank shares last traded at C$167.39, with a volume of 5,906,081 shares trading hands.

Wall Street Analyst Weigh In

TD has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Canaccord Genuity Group cut their target price on Toronto-Dominion Bank from C$197.00 to C$196.00 in a research note on Thursday, September 3rd. Raymond James Financial raised their price target on Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Canadian Imperial Bank of Commerce boosted their price objective on Toronto-Dominion Bank from C$184.00 to C$188.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Finally, Jefferies Financial Group lifted their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$165.00 in a report on Thursday, September 3rd. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Moderate Buy” and an average target price of C$171.08.

Toronto-Dominion Bank Stock Performance

The firm’s 50 day moving average price is C$168.24 and its two-hundred day moving average price is C$158.03. The company has a market cap of C$274.46 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.81.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share for the quarter. Toronto-Dominion Bank had a return on equity of 12.83% and a net margin of 14.36%.The firm had revenue of C$16.93 billion during the quarter. As a group, analysts forecast that The Toronto-Dominion Bank will post 7.2160149 EPS for the current fiscal year.

Toronto-Dominion Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Saturday, October 31st will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 annualized dividend and a yield of 2.7%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 46.36%.

Insider Activity

In related news, insider Kelvin Vi Luan Tran sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of C$172.92, for a total value of C$1,383,360.00. Following the completion of the transaction, the insider directly owned 23,877 shares of the company’s stock, valued at C$4,128,810.84. This represents a 25.10% decrease in their position. Company insiders own 0.08% of the company’s stock.

About Toronto-Dominion Bank

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.