Connecticut Wealth Management LLC Boosts Holdings in The Toronto-Dominion Bank (NYSE:TD)

Connecticut Wealth Management LLC grew its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 10.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,980 shares of the bank’s stock after purchasing an additional 371 shares during the period. Connecticut Wealth Management LLC’s holdings in Toronto-Dominion Bank were worth $257,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Bray Capital Advisors raised its stake in shares of Toronto-Dominion Bank by 206.7% during the 3rd quarter. Bray Capital Advisors now owns 460 shares of the bank’s stock worth $28,000 after buying an additional 310 shares during the last quarter. Bank of New Hampshire acquired a new position in shares of Toronto-Dominion Bank during the 4th quarter worth $32,000. Avior Wealth Management LLC raised its stake in shares of Toronto-Dominion Bank by 92.9% during the 4th quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock worth $38,000 after buying an additional 286 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Toronto-Dominion Bank during the 4th quarter worth $50,000. Finally, Bfsg LLC acquired a new position in shares of Toronto-Dominion Bank during the 4th quarter worth $57,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TD. Barclays began coverage on Toronto-Dominion Bank in a research note on Wednesday, March 20th. They set an “equal weight” rating for the company. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group started coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and a consensus target price of $89.33.

Toronto-Dominion Bank Price Performance

TD stock traded up $0.81 during trading on Monday, hitting $55.47. The stock had a trading volume of 2,510,476 shares, compared to its average volume of 3,042,434. The company’s 50 day moving average price is $59.16 and its two-hundred day moving average price is $60.04. The Toronto-Dominion Bank has a 1-year low of $54.12 and a 1-year high of $66.15. The stock has a market cap of $97.80 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, February 29th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. The company had revenue of $10.07 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. On average, sell-side analysts forecast that The Toronto-Dominion Bank will post 5.77 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.7519 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 annualized dividend and a dividend yield of 5.42%. The ex-dividend date was Monday, April 8th. Toronto-Dominion Bank’s dividend payout ratio is 64.32%.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.