Pictet Asset Management Holding SA lifted its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD) by 9.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 983,997 shares of the bank’s stock after buying an additional 82,419 shares during the period. Pictet Asset Management Holding SA’s holdings in Toronto Dominion Bank were worth $115,973,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of TD. AlphaCentric Advisors LLC raised its position in Toronto Dominion Bank by 8.6% in the third quarter. AlphaCentric Advisors LLC now owns 2,240 shares of the bank’s stock worth $263,000 after acquiring an additional 178 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Toronto Dominion Bank by 5.2% in the third quarter. Parallel Advisors LLC now owns 7,029 shares of the bank’s stock valued at $826,000 after acquiring an additional 350 shares during the period. Abacus Wealth Partners LLC lifted its holdings in Toronto Dominion Bank by 16.2% in the third quarter. Abacus Wealth Partners LLC now owns 2,651 shares of the bank’s stock valued at $312,000 after acquiring an additional 369 shares during the period. Plancorp LLC acquired a new stake in Toronto Dominion Bank in the third quarter valued at $464,000. Finally, CenterBook Partners LP boosted its position in shares of Toronto Dominion Bank by 103.2% during the 3rd quarter. CenterBook Partners LP now owns 15,257 shares of the bank’s stock worth $1,793,000 after purchasing an additional 7,747 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.
Toronto Dominion Bank Stock Performance
NYSE TD opened at $122.35 on Monday. Toronto Dominion Bank has a 1-year low of $79.74 and a 1-year high of $128.79. The company has a market capitalization of $199.34 billion, a P/E ratio of 18.18, a PEG ratio of 1.12 and a beta of 0.72. The business has a 50 day moving average price of $121.09 and a 200 day moving average price of $111.23. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03.
Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last issued its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.24. The firm had revenue of $12.07 billion during the quarter, compared to analysts’ expectations of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%. Toronto Dominion Bank’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 earnings per share. Sell-side analysts expect that Toronto Dominion Bank will post 7.04 EPS for the current fiscal year.
Toronto Dominion Bank declared that its board has initiated a stock repurchase program on Wednesday, September 30th that permits the company to repurchase $7.14 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 3.5% of its stock through open market purchases. Share buyback programs are typically an indication that the company’s board believes its shares are undervalued.
Toronto Dominion Bank Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Friday, October 9th were given a C$1.12 dividend. The ex-dividend date was Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 46.66%.
Analyst Ratings Changes
A number of research firms have recently weighed in on TD. Keefe, Bruyette & Woods began coverage on shares of Toronto Dominion Bank in a research note on Friday, August 21st. They set a “market perform” rating on the stock. Weiss Ratings upgraded shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, October 21st. Finally, Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.00.
Check Out Our Latest Stock Analysis on Toronto Dominion Bank
About Toronto Dominion Bank
The Toronto-Dominion Bank, commonly known as TD Bank Group, is a Canadian financial services company serving personal, business, corporate and institutional clients. Its services include everyday banking, deposits, mortgages and other lending, credit cards, wealth management, insurance and capital markets services.
TD operates primarily in Canada and the United States through businesses that include TD Canada Trust, TD Bank and TD Securities. It also provides investment and wealth-management services through its TD Wealth businesses.
The bank traces its history to the Bank of Toronto, founded in 1855.
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