Gateway Wealth Partners LLC Makes New Investment in Toronto Dominion Bank (The) $TD

Gateway Wealth Partners LLC bought a new stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the first quarter, HoldingsChannel.com reports. The firm bought 9,769 shares of the bank’s stock, valued at approximately $912,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bayban bought a new stake in shares of Toronto Dominion Bank during the 4th quarter worth $28,000. Harvest Fund Management Co. Ltd raised its stake in Toronto Dominion Bank by 112.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after acquiring an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC bought a new position in shares of Toronto Dominion Bank in the fourth quarter worth about $34,000. Brown Lisle Cummings Inc. lifted its holdings in shares of Toronto Dominion Bank by 88.4% in the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after acquiring an additional 191 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Toronto Dominion Bank by 660.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after purchasing an additional 456 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Analyst Ratings Changes

TD has been the topic of several research reports. 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. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Finally, Zacks Research cut 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 issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Toronto Dominion Bank Trading Down 2.9%

NYSE TD opened at $116.89 on Thursday. The business’s 50-day moving average price is $117.91 and its two-hundred day moving average price is $105.29. Toronto Dominion Bank has a 12 month low of $72.21 and a 12 month high of $124.87. The firm has a market capitalization of $192.27 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The company had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm’s revenue was down 31.1% compared to the same quarter last year. During the same period last year, the company earned $1.97 earnings per share. On average, analysts expect that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s payout ratio is currently 49.14%.

Toronto Dominion Bank 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.