Toronto-Dominion Bank (TSE:TD) Shares Cross Above Two Hundred 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 Wednesday . The stock has a 200-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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TD. Scotiabank lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$98.00 to C$81.00 in a research note on Friday, December 6th. CIBC decreased their target price on Toronto-Dominion Bank from C$93.00 to C$90.00 in a research report on Friday, December 6th. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$82.00 to C$90.00 in a research report on Thursday, December 12th. National Bankshares decreased their price objective on Toronto-Dominion Bank from C$85.00 to C$80.00 in a report on Friday, December 6th. Finally, Barclays cut shares of Toronto-Dominion Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and an average price target of C$86.83.

Toronto-Dominion Bank Stock Performance

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

Toronto-Dominion Bank Increases Dividend

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

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.