1,290,798 Shares in Toronto Dominion Bank (The) (NYSE:TD) Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired 1,290,798 shares of Toronto Dominion Bank, adding approximately $77.3 million to its investment in the bank.
• Toronto Dominion Bank announced a quarterly dividend increase to $0.7568 per share, reflecting a yield of 4.1% and a payout ratio of 45.16%.
• The bank reported earnings per share (EPS) of $1.39 for the quarter, exceeding the consensus estimate by $0.14, despite lower revenues than expected.

Nuveen LLC bought a new position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,290,798 shares of the bank's stock, valued at approximately $77,336,000. Nuveen LLC owned about 0.07% of Toronto Dominion Bank as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TD. Oppenheimer & Co. Inc. lifted its holdings in shares of Toronto Dominion Bank by 144.6% in the first quarter. Oppenheimer & Co. Inc. now owns 11,532 shares of the bank's stock valued at $691,000 after purchasing an additional 6,818 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Toronto Dominion Bank by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 1,606,446 shares of the bank's stock valued at $96,290,000 after purchasing an additional 104,864 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Toronto Dominion Bank by 1.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank's stock valued at $743,037,000 after purchasing an additional 181,781 shares in the last quarter. Williams Financial LLC purchased a new stake in shares of Toronto Dominion Bank in the first quarter valued at $228,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Toronto Dominion Bank by 0.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,144,490 shares of the bank's stock valued at $68,307,000 after purchasing an additional 3,409 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Trading Up 1.7%

NYSE TD opened at $74.48 on Thursday. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $75.58. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $127.74 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.66 and a beta of 0.84. The firm's fifty day simple moving average is $72.94 and its 200-day simple moving average is $65.15.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping the consensus estimate of $1.25 by $0.14. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $13.36 billion. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. During the same period in the prior year, the business posted $2.04 earnings per share. As a group, 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 firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were given a dividend of $0.7568 per share. The ex-dividend date of this dividend was Thursday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a yield of 4.1%. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 45.16%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TD shares. Scotiabank started coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Desjardins raised shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Royal Bank Of Canada upped their price target on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $93.00.

Toronto Dominion Bank Company Profile

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.

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