Family Legacy Inc. lessened its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,076 shares of the bank’s stock after selling 235 shares during the period. Family Legacy Inc.’s holdings in The Toronto-Dominion Bank were worth $1,309,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of TD. Fiera Capital Corp raised its position in The Toronto-Dominion Bank by 2.1% during the fourth quarter. Fiera Capital Corp now owns 7,625,033 shares of the bank’s stock worth $429,505,000 after acquiring an additional 157,815 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of The Toronto-Dominion Bank by 81.3% in the 4th quarter. Schroder Investment Management Group now owns 6,851,996 shares of the bank’s stock valued at $492,796,000 after purchasing an additional 3,071,809 shares during the period. Mn Services Vermogensbeheer B.V. lifted its stake in The Toronto-Dominion Bank by 1.2% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,594,371 shares of the bank’s stock valued at $90,005,000 after purchasing an additional 19,600 shares during the last quarter. DSM Capital Partners LLC bought a new position in The Toronto-Dominion Bank during the fourth quarter worth about $1,269,000. Finally, Patriot Financial Group Insurance Agency LLC increased its position in The Toronto-Dominion Bank by 80.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 3,838 shares of the bank’s stock worth $217,000 after buying an additional 1,710 shares during the last quarter. 48.01% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on TD shares. Desjardins raised their price objective on The Toronto-Dominion Bank from $79.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, March 1st. BMO Capital Markets lifted their price objective on shares of The Toronto-Dominion Bank from $75.00 to $82.00 and gave the stock a “market perform” rating in a research report on Friday, February 26th. Royal Bank of Canada upped their price objective on shares of The Toronto-Dominion Bank from $79.00 to $82.00 and gave the company a “sector perform” rating in a report on Friday, February 26th. Canaccord Genuity raised their target price on shares of The Toronto-Dominion Bank from $77.50 to $83.00 and gave the stock a “hold” rating in a research note on Friday, February 26th. Finally, CIBC increased their price target on shares of The Toronto-Dominion Bank from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, February 26th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $76.08.
The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Wednesday, February 24th. The bank reported $1.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.66. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $7.54 billion. The Toronto-Dominion Bank had a return on equity of 11.63% and a net margin of 22.23%. Equities research analysts predict that The Toronto-Dominion Bank will post 4.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Friday, April 9th will be paid a $0.6314 dividend. This represents a $2.53 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Thursday, April 8th. This is an increase from The Toronto-Dominion Bank’s previous quarterly dividend of $0.61. The Toronto-Dominion Bank’s payout ratio is 62.16%.
The Toronto-Dominion Bank Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; point-of-sale payment solutions for large and small businesses; wealth and asset management products, and advice to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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