Canoe Financial LP Buys Shares of 854,767 Toronto Dominion Bank (The) (NYSE:TD)

Canoe Financial LP bought a new position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 854,767 shares of the bank's stock, valued at approximately $51,226,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC grew its stake in shares of Toronto Dominion Bank by 3.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 5,446 shares of the bank's stock valued at $290,000 after purchasing an additional 171 shares during the period. MFA Wealth Services increased its holdings in Toronto Dominion Bank by 4.5% in the 1st quarter. MFA Wealth Services now owns 4,179 shares of the bank's stock worth $250,000 after acquiring an additional 179 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Toronto Dominion Bank by 14.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,619 shares of the bank's stock valued at $97,000 after purchasing an additional 202 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Toronto Dominion Bank by 57.5% in the fourth quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after purchasing an additional 230 shares during the period. Finally, Vident Advisory LLC raised its position in shares of Toronto Dominion Bank by 5.8% during the 4th quarter. Vident Advisory LLC now owns 4,535 shares of the bank's stock valued at $241,000 after purchasing an additional 249 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Up 0.9%

TD stock traded up $0.62 during midday trading on Tuesday, reaching $71.80. 1,662,553 shares of the company traded hands, compared to its average volume of 2,315,092. The firm has a market capitalization of $123.69 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 1.75 and a beta of 0.82. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $72.10. The business has a 50 day moving average of $66.07 and a 200-day moving average of $60.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.14. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $13.36 billion. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. During the same quarter in the prior year, the firm posted $2.04 EPS. As a group, sell-side analysts expect 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 will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.7568 per share. This represents a $3.03 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Thursday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's payout ratio is 44.72%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TD shares. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Royal Bank Of Canada raised their target price on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research note on Friday, May 23rd. Finally, Scotiabank assumed coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Toronto Dominion Bank presently has a consensus rating of "Hold" and an average target price 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.