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

Shares of 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$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.

Analysts Set New Price Targets

TD has been the subject of several recent research reports. CIBC reduced their price objective on Toronto-Dominion Bank from C$96.00 to C$95.00 in a research report on Thursday, March 6th. Canaccord Genuity Group raised their price objective on Toronto-Dominion Bank from C$87.00 to C$89.00 in a report on Monday, December 16th. Cormark lowered their price target on Toronto-Dominion Bank from C$99.00 to C$94.00 in a research report on Friday, December 6th. National Bankshares dropped their price target on shares of Toronto-Dominion Bank from C$85.00 to C$80.00 in a research report on Friday, December 6th. Finally, Barclays cut shares of Toronto-Dominion Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, November 21st. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$88.75.

Toronto-Dominion Bank Price Performance

The firm has a 50-day moving average price of C$83.39 and a 200 day moving average price of C$81.09. The company has a market cap of C$149.67 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.22 and a beta of 0.82.

Toronto-Dominion Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.92%. Toronto-Dominion Bank’s payout ratio is presently 80.84%.

Insiders Place Their Bets

In related news, Director Theresa Lynn Currie sold 45,172 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$86.50, for a total value of C$3,907,378.00. Following the transaction, the director now owns 163 shares in the company, valued at approximately C$14,099.50. This trade represents a 99.64 % decrease in their ownership of the stock. 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.