Toronto-Dominion Bank (TSE:TD) Share Price Crosses Above 200 Day Moving Average - Here's Why

The Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$81.09 and traded as high as C$85.62. Toronto-Dominion Bank shares last traded at C$85.31, with a volume of 4,826,165 shares.

Wall Street Analyst Weigh In

TD has been the subject of several analyst reports. Desjardins downgraded Toronto-Dominion Bank from a "moderate buy" rating to a "hold" rating in a research note on Thursday, December 5th. Royal Bank of Canada upped their price target on Toronto-Dominion Bank from C$77.00 to C$86.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 8th. Jefferies Financial Group lowered shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating and lifted their price objective for the company from C$90.00 to C$99.00 in a research report on Tuesday, February 18th. Scotiabank cut their price objective on shares of Toronto-Dominion Bank from C$83.00 to C$82.00 and set a "sector perform" rating for the company in a research report on Thursday, February 20th. Finally, BMO Capital Markets raised shares of Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating and set a C$90.00 target price on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Toronto-Dominion Bank has an average rating of "Hold" and an average price target of C$88.75.

Remove Ads

Toronto-Dominion Bank Price Performance

The company's 50-day moving average is C$83.85 and its 200-day moving average is C$81.21. The firm has a market capitalization of C$152.09 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.22 and a beta of 0.82.

Toronto-Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.84%. Toronto-Dominion Bank's payout ratio is 80.84%.

Insider Buying and Selling

In other Toronto-Dominion Bank news, Director Theresa Lynn Currie sold 45,172 shares of the firm'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 transaction, the director now directly owns 163 shares of the company's stock, valued at C$14,099.50. This trade represents a 99.64 % decrease in their position. Also, Director Michael A. French sold 9,288 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$85.25, for a total transaction of C$791,802.00. Corporate insiders own 0.08% of the company's stock.

About Toronto-Dominion Bank

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.