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

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$81.34 and traded as high as C$87.49. Toronto-Dominion Bank shares last traded at C$87.33, with a volume of 8,470,563 shares traded.

Analysts Set New Price Targets

A number of analysts recently weighed in on TD shares. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating and set a C$90.00 price objective on the stock in a research report on Thursday, December 19th. Cormark decreased their price target on Toronto-Dominion Bank from C$99.00 to C$94.00 in a research note on Friday, December 6th. Desjardins cut Toronto-Dominion Bank from a “moderate buy” rating to a “hold” rating in a report on Thursday, December 5th. UBS Group increased their target price on Toronto-Dominion Bank from C$83.00 to C$90.00 in a research note on Friday, February 14th. Finally, National Bankshares lowered their target price on shares of Toronto-Dominion Bank from C$85.00 to C$80.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$88.75.

Toronto-Dominion Bank Stock Performance

The firm has a fifty day moving average price of C$84.35 and a 200 day moving average price of C$81.34. The stock has a market cap of C$153.21 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82.

Toronto-Dominion Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 4.81%. Toronto-Dominion Bank’s payout ratio is 80.84%.

Insider Activity

In related news, Director Michael A. French sold 9,288 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of C$85.25, for a total value of C$791,802.00. Also, Director Theresa Lynn Currie sold 45,172 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$86.50, for a total transaction of C$3,907,378.00. Following the completion of the sale, the director now directly owns 163 shares in the company, valued at C$14,099.50. This trade represents a 99.64 % decrease in their ownership of the stock. Corporate insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.