Toronto-Dominion Bank (TSE:TD) Stock Passes Above 200 Day Moving Average – Here’s Why

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$137.95 and traded as high as C$169.95. Toronto-Dominion Bank shares last traded at C$169.84, with a volume of 3,336,591 shares traded.

Analysts Set New Price Targets

TD has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their target price on shares of Toronto-Dominion Bank from C$148.00 to C$138.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Scotiabank raised their price target on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a report on Tuesday, June 16th. Jefferies Financial Group upped their price objective on shares of Toronto-Dominion Bank from C$134.00 to C$142.00 in a report on Wednesday, May 20th. Desjardins increased their target price on shares of Toronto-Dominion Bank from C$154.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce raised their target price on 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. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$150.08.

Toronto-Dominion Bank Stock Up 1.0%

The stock’s 50-day moving average price is C$153.18 and its 200 day moving average price is C$138.30. The company has a market cap of C$282.34 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92.

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

Toronto-Dominion Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Thursday, April 9th. Toronto-Dominion Bank’s dividend payout ratio is 50.00%.

Insider Activity

In other news, 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 value of C$1,330,871.78. Following the transaction, the insider directly owned 26,677 shares in the company, valued at approximately C$4,177,884.97. The trade was a 24.16% decrease in their ownership of the stock. Also, insider Paul Martyn Clark sold 27,649 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 260 shares of the company’s stock, valued at C$41,917.20. This represents a 99.07% decrease in their position. Company insiders own 0.08% of the company’s stock.

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.