Spartan Wealth Advisory Services LLC Invests $394,000 in Toronto Dominion Bank (The) $TD

Spartan Wealth Advisory Services LLC acquired a new stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,225 shares of the bank’s stock, valued at approximately $394,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Toronto Dominion Bank by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock valued at $7,280,911,000 after purchasing an additional 765,107 shares in the last quarter. Norges Bank purchased a new stake in shares of Toronto Dominion Bank during the fourth quarter worth about $2,125,963,000. Bank of Nova Scotia raised its position in shares of Toronto Dominion Bank by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock valued at $1,836,518,000 after buying an additional 1,234,510 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Toronto Dominion Bank by 10.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock valued at $1,606,978,000 after buying an additional 1,629,062 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Toronto Dominion Bank by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank’s stock valued at $1,610,733,000 after buying an additional 968,122 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

TD has been the topic of a number of analyst reports. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Royal Bank Of Canada increased their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Weiss Ratings cut Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Finally, Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Price Performance

Toronto Dominion Bank stock opened at $120.36 on Tuesday. Toronto Dominion Bank has a 1 year low of $72.21 and a 1 year high of $124.87. The firm has a 50 day moving average price of $116.27 and a 200 day moving average price of $104.05. The company has a market cap of $198.46 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.38 and a beta of 0.71. 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 (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping the consensus estimate of $1.63 by $0.11. The firm had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. Toronto Dominion Bank’s revenue for the quarter was down 31.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.97 earnings per share. Sell-side analysts predict that Toronto Dominion Bank will post 6.86 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 issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, July 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s payout ratio is currently 49.14%.

About Toronto Dominion Bank

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.