Northwestern Mutual Wealth Management Co. lifted its position in shares of Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD) by 15.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,394 shares of the bank’s stock after purchasing an additional 6,272 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Toronto Dominion Bank were worth $4,370,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC bought a new stake in shares of Toronto Dominion Bank during the 4th quarter worth about $34,000. Smartleaf Asset Management LLC boosted its holdings in Toronto Dominion Bank by 660.9% in the 2nd 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. Cornerstone Planning Group LLC boosted its holdings in Toronto Dominion Bank by 177.9% in the 4th 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 lifted its holdings in shares of Toronto Dominion Bank by 80.6% during the 4th quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock worth $44,000 after acquiring an additional 208 shares during the period. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Toronto Dominion Bank during the 3rd quarter worth approximately $48,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on TD shares. Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Royal Bank Of Canada upped their price target 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. Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, May 29th. Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Toronto Dominion Bank currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.
Toronto Dominion Bank Stock Performance
Shares of TD stock opened at $112.49 on Thursday. The firm has a 50-day moving average of $104.38 and a 200-day moving average of $96.80. The company has a market cap of $185.89 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Toronto Dominion Bank has a one year low of $69.56 and a one year high of $114.26.
Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last announced its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.97 earnings per share. Equities research analysts forecast that Toronto Dominion Bank will post 6.92 EPS for the current fiscal year.
Toronto Dominion Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.0%. 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 is 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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