Keynote Financial Services LLC Invests $396,000 in The Toronto-Dominion Bank (NYSE:TD)

Keynote Financial Services LLC bought a new position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 6,553 shares of the bank’s stock, valued at approximately $396,000.

A number of other institutional investors have also modified their holdings of TD. Mather Group LLC. purchased a new position in Toronto-Dominion Bank in the 1st quarter worth approximately $29,000. LifeSteps Financial Inc. purchased a new position in Toronto-Dominion Bank in the 1st quarter worth approximately $30,000. Bank of New Hampshire purchased a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $32,000. Avior Wealth Management LLC boosted its holdings in Toronto-Dominion Bank by 92.9% in the 4th quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock worth $38,000 after acquiring an additional 286 shares during the period. Finally, Optiver Holding B.V. purchased a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

TD stock traded down $1.40 during trading hours on Friday, hitting $56.69. 4,197,931 shares of the stock traded hands, compared to its average volume of 2,649,050. The stock has a 50-day simple moving average of $56.04 and a 200 day simple moving average of $57.94. The Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.22. The company has a market cap of $99.02 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.60 and a beta of 0.82. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. The business had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Equities analysts forecast 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 was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were given a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.22%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 67.73%.

Analysts Set New Price Targets

Several research firms have recently commented on TD. Cibc World Mkts upgraded Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. National Bank Financial lowered Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research report on Thursday, May 23rd. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. BMO Capital Markets dropped their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, May 24th. Finally, UBS Group initiated coverage on Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Toronto-Dominion Bank Profile

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.