Toronto-Dominion Bank (TSE:TD) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

by · The Markets Daily

The Toronto-Dominion Bank (TSE:TD – Get Free Report) (NYSE:TD) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$153.96 and traded as high as C$166.33. Toronto-Dominion Bank shares last traded at C$166.31, with a volume of 3,424,505 shares trading hands.

Analyst Ratings Changes

TD has been the subject of a number of research reports. Canadian Imperial Bank of Commerce lifted their target price on shares of Toronto-Dominion Bank from C$184.00 to C$188.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada upped their price target on shares of Toronto-Dominion Bank from C$156.00 to C$173.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Desjardins set a C$183.00 price objective on Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Scotiabank lifted their price objective on Toronto-Dominion Bank from C$180.00 to C$187.00 and gave the company a “sector outperform” rating in a research report on Friday, August 28th. Finally, National Bank Financial boosted their target price on Toronto-Dominion Bank from C$190.00 to C$196.00 and gave the company an “outperform” rating in a research note on Sunday, August 30th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Moderate Buy” and an average price target of C$171.08.

Read Our Latest Analysis on Toronto-Dominion Bank

Toronto-Dominion Bank Stock Up 0.8%

The company has a market capitalization of C$274.81 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.22 and a beta of 0.81. The company’s 50-day simple moving average is C$168.67 and its 200 day simple moving average is C$154.05.

Toronto-Dominion Bank (TSE:TD – Get Free Report) (NYSE:TD) last released its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 earnings per share for the quarter. Toronto-Dominion Bank had a net margin of 14.36% and a return on equity of 12.83%. The business had revenue of C$16.93 billion for the quarter. As a group, equities research analysts forecast that The Toronto-Dominion Bank will post 7.2160149 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 31st were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.7%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date was Friday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is 46.36%.

About Toronto-Dominion Bank

(Get Free Report)

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.

Further Reading