Toronto-Dominion Bank (TSE:TD) Stock Crosses Above 200-Day Moving Average – Here’s Why

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$79.34 and traded as high as C$79.60. Toronto-Dominion Bank shares last traded at C$79.31, with a volume of 13,619,651 shares traded.

Wall Street Analysts Forecast Growth

TD has been the topic of several research analyst reports. BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating and set a C$90.00 price objective on the stock in a report on Thursday, December 19th. Royal Bank of Canada boosted their price target on shares of 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. CIBC reduced their price target on shares of Toronto-Dominion Bank from C$93.00 to C$90.00 in a research report on Friday, December 6th. Scotiabank cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$98.00 to C$81.00 in a report on Friday, December 6th. Finally, Canaccord Genuity Group increased their target price on shares of Toronto-Dominion Bank from C$87.00 to C$89.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Toronto-Dominion Bank has an average rating of “Hold” and an average target price of C$86.83.

Toronto-Dominion Bank Price Performance

The stock has a market cap of C$138.79 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.22 and a beta of 0.82. The business’s 50 day moving average is C$77.40 and its 200 day moving average is C$79.34.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 31st will be given a dividend of $1.05 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $1.02. This represents a $4.20 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 94.44%.

Toronto-Dominion Bank Company Profile

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.