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

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$144.78 and traded as high as C$169.24. Toronto-Dominion Bank shares last traded at C$167.87, with a volume of 4,215,059 shares traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on TD. Scotiabank lifted their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. National Bank Financial increased their price objective on shares of Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Canaccord Genuity Group raised their price objective on Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Desjardins raised 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 report on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce boosted their target price on Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Moderate Buy” and a consensus price target of C$151.42.

Toronto-Dominion Bank Stock Performance

The company’s fifty day simple moving average is C$164.15 and its 200-day simple moving average is C$144.78. The company has a market capitalization of C$277.33 billion, a P/E ratio of 19.70, a PEG ratio of 1.22 and a beta of 0.89.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last released its quarterly earnings results on Thursday, May 28th. The company reported C$2.38 EPS for the quarter. The firm had revenue of C$16.04 billion during the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%. On average, sell-side analysts predict that The Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 31st will be issued a $1.12 dividend. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 50.00%.

Insider Buying and Selling

In related news, insider Kelvin Vi Luan Tran sold 8,498 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of C$156.61, for a total transaction of C$1,330,871.78. Following the completion of the transaction, the insider owned 26,677 shares in the company, valued at C$4,177,884.97. The trade was a 24.16% decrease in their position. Also, insider Paul Martyn Clark sold 27,649 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$161.22, for a total transaction of C$4,457,571.78. Following the sale, the insider directly owned 260 shares of the company’s stock, valued at C$41,917.20. The trade was a 99.07% decrease in their position. 0.08% of the stock is owned by insiders.

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.