Magnetar Financial LLC Makes New Investment in Toronto Dominion Bank (The) $TD

Magnetar Financial LLC purchased a new position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 45,709 shares of the bank’s stock, valued at approximately $4,306,000.

A number of other institutional investors and hedge funds have also modified their holdings of TD. AQR Capital Management LLC bought a new stake in shares of Toronto Dominion Bank during the first quarter worth approximately $568,000. Focus Partners Wealth raised its stake in shares of Toronto Dominion Bank by 27.7% during the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank’s stock worth $1,497,000 after buying an additional 5,410 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Toronto Dominion Bank during the second quarter worth approximately $259,000. Cresset Asset Management LLC bought a new stake in shares of Toronto Dominion Bank during the second quarter worth approximately $211,000. Finally, NewEdge Advisors LLC raised its stake in shares of Toronto Dominion Bank by 25.3% during the second quarter. NewEdge Advisors LLC now owns 8,039 shares of the bank’s stock worth $590,000 after buying an additional 1,622 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TD has been the subject of a number of recent research reports. Zacks Research downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada boosted their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Stock Up 0.8%

Shares of NYSE:TD opened at $118.24 on Wednesday. Toronto Dominion Bank has a 52 week low of $70.50 and a 52 week high of $118.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $195.39 billion, a PE ratio of 18.45, a PEG ratio of 1.30 and a beta of 0.72. The company has a 50 day moving average price of $108.33 and a two-hundred day moving average price of $98.92.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. The business’s quarterly revenue was down 31.1% on a year-over-year basis. Analysts forecast that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio is currently 48.52%.

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.