Toronto Dominion Bank (NYSE:TD) Shares Cross Above 200 Day Moving Average – What’s Next?

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $113.74 and traded as high as $118.35. Toronto Dominion Bank shares last traded at $117.2670, with a volume of 3,664,677 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TD shares. Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, September 28th. Finally, Keefe, Bruyette & Woods initiated coverage on Toronto Dominion Bank in a research note on Friday, August 21st. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Toronto Dominion Bank Trading Down 3.7%

The business’s 50-day moving average price is $120.42 and its 200 day moving average price is $113.90. The company has a market cap of $187.24 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.16 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.24. The company had revenue of $12.07 billion for 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%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, analysts expect that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Friday, October 9th will be given a dividend of C$1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, October 9th. Toronto Dominion Bank’s dividend payout ratio is presently 46.81%.

Institutional Investors Weigh In On Toronto Dominion Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc increased its stake in Toronto Dominion Bank by 1.0% during the 3rd quarter. Versant Capital Management Inc now owns 11,000 shares of the bank’s stock worth $1,293,000 after acquiring an additional 113 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Toronto Dominion Bank by 8.2% during the 2nd quarter. QRG Capital Management Inc. now owns 8,727 shares of the bank’s stock worth $1,060,000 after purchasing an additional 658 shares in the last quarter. Andra AP fonden bought a new position in shares of Toronto Dominion Bank in the second quarter worth $32,856,000. Wellington Altus USA Inc. raised its stake in Toronto Dominion Bank by 3.6% in the second quarter. Wellington Altus USA Inc. now owns 8,449 shares of the bank’s stock valued at $1,026,000 after purchasing an additional 292 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Toronto Dominion Bank by 1.6% during the second quarter. Sequoia Financial Advisors LLC now owns 23,508 shares of the bank’s stock worth $2,855,000 after purchasing an additional 379 shares during the period. 52.37% of the stock is currently owned by institutional investors and hedge funds.

About Toronto Dominion Bank

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The bank was formed in 1955 through the merger of The Bank of Toronto and The Dominion Bank and serves customers in Canada and the United States.

TD provides a broad range of banking and financial services, including personal and commercial deposit accounts, lending, mortgages, credit cards, payments, investment products and financial advice. Its Canadian operations serve individuals, businesses and institutions, while its U.S.