Ninepoint Partners LP bought a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 246,256 shares of the bank’s stock, valued at approximately $29,903,000. Toronto Dominion Bank comprises 2.3% of Ninepoint Partners LP’s investment portfolio, making the stock its 8th largest holding.
A number of other hedge funds and other institutional investors have also modified their holdings of TD. Vanguard Group Inc. lifted its stake in Toronto Dominion Bank by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock valued at $7,280,911,000 after buying an additional 765,107 shares in the last quarter. Norges Bank purchased a new position in shares of Toronto Dominion Bank in the fourth quarter worth approximately $2,125,963,000. Bank of Nova Scotia increased its position in shares of Toronto Dominion Bank by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock worth $1,836,518,000 after acquiring an additional 1,234,510 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Toronto Dominion Bank by 10.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock valued at $1,606,978,000 after acquiring an additional 1,629,062 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Toronto Dominion Bank by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank’s stock valued at $1,610,733,000 after acquiring an additional 968,122 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.
Toronto Dominion Bank Stock Performance
Shares of TD opened at $116.91 on Friday. The company has a market capitalization of $192.30 billion, a PE ratio of 18.24, a PEG ratio of 1.31 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50 day moving average price is $120.49 and its 200 day moving average price is $108.33. Toronto Dominion Bank has a 52 week low of $72.73 and a 52 week high of $125.46.
Toronto Dominion Bank Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were issued a $1.12 dividend. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio is currently 49.14%.
Wall Street Analysts Forecast Growth
TD has been the subject of a number of recent analyst reports. 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. Royal Bank Of Canada boosted their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Weiss Ratings raised Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. 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 report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.
Get Our Latest Report on Toronto Dominion Bank
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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