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

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD)’s share price 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.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Toronto-Dominion Bank from C$77.00 to C$86.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 8th. Canaccord Genuity Group increased their price target on Toronto-Dominion Bank from C$87.00 to C$89.00 in a research note on Monday, December 16th. Desjardins cut shares of Toronto-Dominion Bank from a “moderate buy” rating to a “hold” rating in a research report on Thursday, December 5th. CIBC dropped their price objective on shares of Toronto-Dominion Bank from C$93.00 to C$90.00 in a research report on Friday, December 6th. Finally, BMO Capital Markets upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating and set a C$90.00 target price for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and an average target price of C$86.83.

Toronto-Dominion Bank Stock Up 4.4 %

The company’s fifty day moving average price is C$77.51 and its 200 day moving average price is C$79.40. The company has a market capitalization of C$145.48 billion, a P/E ratio of 19.24, a PEG ratio of 1.22 and a beta of 0.82.

Toronto-Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 31st will be issued a $1.05 dividend. The ex-dividend date is Friday, January 10th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $1.02. This represents a $4.20 annualized dividend and a yield of 5.05%. Toronto-Dominion Bank’s payout ratio is currently 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.