TD Asset Management Inc Buys 329,429 Shares of Toronto Dominion Bank (The) $TD

TD Asset Management Inc grew its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 37,365,008 shares of the bank’s stock after purchasing an additional 329,429 shares during the quarter. Toronto Dominion Bank makes up about 2.3% of TD Asset Management Inc’s holdings, making the stock its 6th largest position. TD Asset Management Inc’s holdings in Toronto Dominion Bank were worth $2,742,748,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC lifted its holdings in Toronto Dominion Bank by 122.9% during the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank’s stock worth $26,000 after buying an additional 236 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in Toronto Dominion Bank during the first quarter valued at $32,000. ORG Partners LLC acquired a new stake in shares of Toronto Dominion Bank during the first quarter worth $34,000. Richardson Financial Services Inc. bought a new position in shares of Toronto Dominion Bank in the 2nd quarter worth about $34,000. Finally, Brentview Investment Management LLC bought a new stake in shares of Toronto Dominion Bank during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $78.83 on Tuesday. The firm has a market capitalization of $134.08 billion, a PE ratio of 9.21, a P/E/G ratio of 1.60 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $76.46 and a 200 day moving average price of $70.58. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $82.08.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.45. The company had revenue of $10.12 billion during the quarter, compared to analyst estimates of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS. On average, sell-side analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $0.76. Toronto Dominion Bank’s dividend payout ratio is 35.75%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TD shares. Desjardins upgraded Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Finally, Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $93.00.

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.