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

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$100.14 and traded as high as C$115.33. Toronto-Dominion Bank shares last traded at C$114.03, with a volume of 5,902,837 shares traded.

Analysts Set New Price Targets

TD has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price target on Toronto-Dominion Bank from C$113.00 to C$119.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Jefferies Financial Group raised their price target on Toronto-Dominion Bank from C$120.00 to C$124.00 in a research report on Tuesday, September 30th. Scotiabank raised their price target on Toronto-Dominion Bank from C$104.00 to C$114.00 in a research report on Friday, October 10th. National Bankshares set a C$100.00 price target on Toronto-Dominion Bank and gave the stock a “sector perform” rating in a research report on Monday, September 22nd. Finally, Desjardins lifted their target price on Toronto-Dominion Bank from C$107.00 to C$110.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus target price of C$106.33.

Toronto-Dominion Bank Stock Down 1.1%

The stock has a market capitalization of C$199.76 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.22 and a beta of 0.95. The stock’s 50 day moving average price is C$108.61 and its 200-day moving average price is C$100.14.

Toronto-Dominion Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 31st will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, October 10th. Toronto-Dominion Bank’s payout ratio is currently 35.70%.

Insiders Place Their Bets

In related news, insider Ajai Bambawale sold 7,328 shares of Toronto-Dominion Bank stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of C$112.07, for a total value of C$821,248.96. Following the completion of the sale, the insider directly owned 800 shares in the company, valued at C$89,656. The trade was a 90.16% decrease in their ownership of the stock. Also, Director Nathalie Palladitcheff acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was purchased at an average price of C$112.64 per share, with a total value of C$112,640.00. Following the completion of the acquisition, the director directly owned 3,292 shares of the company’s stock, valued at C$370,810.88. This represents a 43.63% increase in their ownership of the stock. Insiders have sold 84,384 shares of company stock valued at $9,456,915 over the last three months. Insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Company Profile

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.