Toronto Dominion Bank (NYSE:TD) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $111.56 and traded as high as $122.28. Toronto Dominion Bank shares last traded at $120.6210, with a volume of 1,995,685 shares.

Analyst Ratings Changes

TD has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods started coverage on shares of Toronto Dominion Bank in a research report on Friday, August 21st. They set a “market perform” rating on the stock. Weiss Ratings raised Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Royal Bank Of Canada increased their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Toronto Dominion Bank has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Stock Performance

The business has a 50 day moving average price of $120.85 and a 200 day moving average price of $111.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $200.23 billion, a PE ratio of 18.09, a PEG ratio of 1.20 and a beta of 0.73.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.24. The business had revenue of $12.07 billion during the quarter, compared to analyst estimates of $10.70 billion. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. Toronto Dominion Bank’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS. As a group, equities research analysts expect that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Friday, October 9th will be given a dividend of $1.12 per share. The ex-dividend date is Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. Toronto Dominion Bank’s dividend payout ratio is 47.99%.

Institutional Trading of Toronto Dominion Bank

Several large investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. grew its holdings in Toronto Dominion Bank by 3.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank’s stock valued at $112,185,000 after buying an additional 34,921 shares in the last quarter. Alberta Investment Management Corp purchased a new position in shares of Toronto Dominion Bank in the fourth quarter valued at $299,850,000. State of Wyoming increased its position in Toronto Dominion Bank by 1,018.7% in the first quarter. State of Wyoming now owns 22,765 shares of the bank’s stock worth $2,119,000 after purchasing an additional 20,730 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Toronto Dominion Bank during the second quarter valued at $202,900,000. Finally, Ninepoint Partners LP purchased a new position in shares of Toronto Dominion Bank in the 2nd quarter worth $29,903,000. Institutional investors own 52.37% of the company’s stock.

About Toronto Dominion Bank

Toronto-Dominion Bank, operating under the TD name, is a Canadian financial services company headquartered in Toronto, Ontario. The bank traces its history to the formation of The Toronto-Dominion Bank in 1955 through the merger of The Bank of Toronto, founded in 1855, and The Dominion Bank, founded in 1869.

TD provides a broad range of banking and financial services to individuals, businesses and institutions. Its offerings include personal and commercial deposit accounts, mortgages, consumer and business lending, credit cards, payment services, investment products, insurance and wealth management.