Acadian Asset Management LLC Buys 106,600 Shares of The Toronto-Dominion Bank (NYSE:TD)

Acadian Asset Management LLC increased its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 582.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,900 shares of the bank’s stock after buying an additional 106,600 shares during the quarter. Acadian Asset Management LLC’s holdings in Toronto-Dominion Bank were worth $7,542,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in Toronto-Dominion Bank during the first quarter valued at approximately $29,000. LifeSteps Financial Inc. acquired a new stake in Toronto-Dominion Bank during the first quarter valued at approximately $30,000. Bank of New Hampshire acquired a new stake in Toronto-Dominion Bank during the fourth quarter valued at approximately $32,000. Avior Wealth Management LLC boosted its holdings in Toronto-Dominion Bank by 92.9% during the fourth quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock valued at $38,000 after purchasing an additional 286 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new stake in Toronto-Dominion Bank during the fourth quarter valued at approximately $39,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Trading Up 0.5 %

TD stock traded up $0.31 during trading on Monday, hitting $58.21. The company had a trading volume of 993,809 shares, compared to its average volume of 2,900,776. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $55.75 and a 200-day moving average price of $58.18. The Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $66.15. The stock has a market cap of $101.71 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.59 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The company had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. As a group, analysts predict that The Toronto-Dominion Bank will post 5.86 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 67.73%.

Analysts Set New Price Targets

TD has been the topic of several recent analyst reports. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. BMO Capital Markets reduced their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. National Bank Financial downgraded Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd. Finally, UBS Group initiated coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.00.

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.