Toronto-Dominion Bank (TSE:TD) Stock Price Passes Above 200-Day Moving Average – What’s Next?

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TD shares. Desjardins upped 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. Canadian Imperial Bank of Commerce boosted their price objective 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 upped their target price on Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Jefferies Financial Group boosted their target price on shares of Toronto-Dominion Bank from C$134.00 to C$142.00 in a research note on Wednesday, May 20th. Finally, Scotiabank upped their price target on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Moderate Buy” and a consensus price target of C$151.42.

Toronto-Dominion Bank Price Performance

The firm has a market cap of C$279.20 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89. The stock’s fifty day moving average price is C$164.56 and its 200-day moving average price is C$144.95.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings data 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 net margin of 13.21% and a return on equity of 11.85%. As a group, equities research analysts predict that The Toronto-Dominion Bank will post 7.2160149 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

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

Insider Buying and Selling

In other Toronto-Dominion Bank news, insider Kelvin Vi Luan Tran sold 8,498 shares of Toronto-Dominion Bank 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 value of C$1,330,871.78. Following the completion of the sale, the insider directly owned 26,677 shares in the company, valued at 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 company’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 sale, the insider owned 260 shares of the company’s stock, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their position. 0.08% of the stock is owned by insiders.

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.