JPMorgan Chase & Co. lowered its position in Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,010,236 shares of the bank’s stock after selling 647,566 shares during the quarter. JPMorgan Chase & Co.’s holdings in Toronto Dominion Bank were worth $660,364,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd lifted its stake in Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after buying an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC acquired a new position in shares of Toronto Dominion Bank in the fourth quarter valued at approximately $34,000. Cornerstone Planning Group LLC increased its holdings in shares of Toronto Dominion Bank by 177.9% in the fourth quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock valued at $40,000 after purchasing an additional 274 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Toronto Dominion Bank by 80.6% in the fourth quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock valued at $44,000 after purchasing an additional 208 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Toronto Dominion Bank by 660.9% in the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after purchasing an additional 456 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.
Analysts Set New Price Targets
TD has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Royal Bank Of Canada boosted their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.
Toronto Dominion Bank Stock Up 0.4%
Shares of NYSE:TD opened at $114.66 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52-week low of $70.00 and a 52-week high of $115.40. The stock’s fifty day simple moving average is $106.06 and its 200-day simple moving average is $97.71. The company has a market capitalization of $189.47 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.26 and a beta of 0.72.
Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last released its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the business posted $1.97 earnings per share. The firm’s revenue for the quarter was down 31.1% compared to the same quarter last year. As a group, equities research analysts forecast that Toronto Dominion Bank will post 6.92 earnings per share for the current fiscal year.
Toronto Dominion Bank Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.9%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 48.52%.
About Toronto Dominion Bank
Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.
TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.
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