Prudential PLC Acquires 8,392 Shares of Toronto Dominion Bank (The) $TD

Prudential PLC boosted its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 34.4% during the fourth quarter, HoldingsChannel reports. The fund owned 32,806 shares of the bank’s stock after purchasing an additional 8,392 shares during the quarter. Prudential PLC’s holdings in Toronto Dominion Bank were worth $3,092,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC bought a new stake in Toronto Dominion Bank during the 4th quarter worth approximately $34,000. Cornerstone Planning Group LLC grew its holdings in Toronto Dominion Bank by 177.9% during the 4th quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock worth $40,000 after acquiring an additional 274 shares during the last quarter. Sound Income Strategies LLC grew its holdings in Toronto Dominion Bank by 80.6% during the 4th quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock worth $44,000 after acquiring an additional 208 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Toronto Dominion Bank by 660.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after acquiring an additional 456 shares during the last quarter. Finally, Entrust Financial LLC bought a new stake in Toronto Dominion Bank during the 4th quarter worth approximately $55,000. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Trading Down 0.4%

NYSE:TD opened at $113.26 on Friday. The firm’s fifty day moving average is $105.17 and its 200-day moving average is $97.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a 52 week low of $69.86 and a 52 week high of $114.56. The firm has a market cap of $187.15 billion, a P/E ratio of 17.67, a P/E/G ratio of 1.25 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the firm posted $1.97 EPS. The company’s quarterly revenue was down 31.1% on a year-over-year basis. Equities analysts expect that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s payout ratio is currently 48.52%.

Analysts Set New Price Targets

TD has been the topic of a number of research reports. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, May 29th. Finally, Royal Bank Of Canada upped their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.