Toronto-Dominion Bank (TSE:TD) Share Price Passes Above 200 Day Moving Average – Should You Sell?

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$146.23 and traded as high as C$169.23. Toronto-Dominion Bank shares last traded at C$168.04, with a volume of 2,853,963 shares changing hands.

Analysts Set New Price Targets

TD has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on Toronto-Dominion Bank from C$134.00 to C$142.00 in a research report on Wednesday, May 20th. Desjardins raised their price target on Toronto-Dominion Bank from C$154.00 to C$160.00 and gave the company a “buy” rating in a report on Friday, May 29th. Scotiabank upped their price objective on shares of Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the stock a “sector outperform” rating in a report on Tuesday, June 16th. National Bank Financial increased their target price on shares of Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Finally, Barclays boosted their price target on shares of Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the stock an “underweight” rating in a research report on Friday, May 29th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$151.42.

Toronto-Dominion Bank Price Performance

The stock has a market capitalization of C$277.61 billion, a P/E ratio of 19.72, a PEG ratio of 1.22 and a beta of 0.89. The stock’s fifty day moving average is C$166.25 and its two-hundred day moving average is C$146.23.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$2.38 earnings per share (EPS) for the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%.The company had revenue of C$16.04 billion for the quarter. Analysts expect that The Toronto-Dominion Bank will post 7.2160149 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 31st were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, July 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. Toronto-Dominion Bank’s payout ratio is presently 50.00%.

Insiders Place Their Bets

In related news, insider Paul Martyn Clark sold 27,649 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$161.22, for a total value of C$4,457,571.78. Following the completion of the transaction, the insider owned 260 shares in the company, valued at C$41,917.20. This trade represents a 99.07% decrease in their position. Also, insider Kelvin Vi Luan Tran sold 8,498 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the completion of the transaction, the insider owned 26,677 shares of the company’s stock, valued at C$4,177,884.97. This trade represents a 24.16% decrease in their position. 0.08% of the stock is owned by insiders.

About Toronto-Dominion Bank

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.