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

Shares of The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$105.23 and traded as high as C$120.41. Toronto-Dominion Bank shares last traded at C$120.09, with a volume of 6,960,951 shares.

Analysts Set New Price Targets

TD has been the subject of several recent analyst reports. BMO Capital Markets boosted their price objective on shares of Toronto-Dominion Bank from C$102.00 to C$107.00 in a research report on Tuesday, September 30th. Canaccord Genuity Group boosted their price target on shares of Toronto-Dominion Bank from C$113.00 to C$119.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Scotiabank set a C$114.00 price objective on Toronto-Dominion Bank and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. CIBC lifted their target price on Toronto-Dominion Bank from C$112.00 to C$122.00 in a research report on Wednesday, November 19th. Finally, Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating and boosted their target price for the company from C$124.00 to C$125.00 in a report on Tuesday, November 25th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus target price of C$109.46.

Toronto-Dominion Bank Trading Up 2.0%

The company has a 50 day simple moving average of C$113.94 and a 200 day simple moving average of C$105.23. The stock has a market capitalization of C$205.02 billion, a PE ratio of 10.28, a P/E/G ratio of 1.22 and a beta of 0.96.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last announced its earnings results on Thursday, December 4th. The company reported C$2.18 earnings per share for the quarter. The company had revenue of C$16.03 billion for the quarter. Toronto-Dominion Bank had a return on equity of 7.84% and a net margin of 15.80%. On average, equities research analysts predict that The Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Toronto-Dominion Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Friday, October 31st were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, October 10th. Toronto-Dominion Bank’s payout ratio is currently 35.70%.

Insiders Place Their Bets

In related news, insider Ajai Bambawale sold 39,376 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of C$112.07, for a total transaction of C$4,412,868.32. Also, Director Nathalie Palladitcheff acquired 1,000 shares of Toronto-Dominion Bank stock in a transaction that occurred on Monday, October 6th. The stock was purchased at an average price of C$112.64 per share, with a total value of C$112,640.00. Following the transaction, the director owned 3,292 shares of the company’s stock, valued at C$370,810.88. This trade represents a 43.63% increase in their ownership of the stock. In the last 90 days, insiders have sold 84,384 shares of company stock valued at $9,456,915. 0.08% of the stock is owned by insiders.

About Toronto-Dominion Bank

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.