Plato Investment Management Ltd acquired a new stake in Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,530 shares of the bank’s stock, valued at approximately $7,556,000.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Toronto Dominion Bank by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock worth $7,280,911,000 after purchasing an additional 765,107 shares in the last quarter. Norges Bank purchased a new position in Toronto Dominion Bank in the 4th quarter valued at about $2,125,963,000. Bank of Nova Scotia lifted its holdings in Toronto Dominion Bank by 6.8% in the 4th quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock valued at $1,836,518,000 after purchasing an additional 1,234,510 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Toronto Dominion Bank by 10.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock worth $1,606,978,000 after purchasing an additional 1,629,062 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Toronto Dominion Bank by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank’s stock worth $1,610,733,000 after purchasing an additional 968,122 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Finally, Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $156.00.
Toronto Dominion Bank Stock Down 0.0%
Shares of TD opened at $124.36 on Monday. Toronto Dominion Bank has a fifty-two week low of $72.73 and a fifty-two week high of $124.87. The company’s fifty day moving average is $120.05 and its two-hundred day moving average is $107.60. The firm has a market cap of $204.54 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.38 and a beta of 0.72. 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 (NYSE:TD – Get Free Report) (TSE:TD) last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The business had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The business’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.97 EPS. Analysts forecast that Toronto Dominion Bank will post 6.9 earnings per share for the current year.
Toronto Dominion Bank Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 49.14%.
Toronto Dominion Bank Company Profile
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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