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

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) crossed 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 trading hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TD shares. Desjardins upped their price objective 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. Canadian Imperial Bank of Commerce raised their target price on shares of Toronto-Dominion Bank from C$151.00 to C$164.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Canaccord Genuity Group set a C$169.00 price target on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a research report on Friday, June 5th. Raymond James Financial upped their price target on shares of Toronto-Dominion Bank from C$152.50 to C$155.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, Scotiabank increased 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 report on Tuesday, June 16th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Toronto-Dominion Bank has an average rating of “Moderate Buy” and an average target price of C$150.08.

Toronto-Dominion Bank Stock Performance

The stock has a 50 day moving average price of C$152.61 and a 200 day moving average price of C$137.95. The company has a market cap of C$280.58 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.22 and a beta of 0.92.

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

Toronto-Dominion Bank Dividend Announcement

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

Insider Transactions at Toronto-Dominion Bank

In other news, insider Paul Martyn Clark sold 27,649 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider owned 260 shares in the company, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their position. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 26,677 shares of the company’s stock, valued at approximately C$4,177,884.97. This trade represents a 24.16% decrease in their position. 0.08% of the stock is currently owned by corporate 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.