Advisors Capital Management LLC Has $24.14 Million Position in Toronto Dominion Bank (The) $TD

Key Points

• Advisors Capital Management LLC has increased its position in Toronto Dominion Bank by 38.7%, owning 402,697 shares worth $24.14 million as of the latest SEC filing.
• Toronto Dominion Bank recently reported quarterly earnings of $1.91 per share, exceeding estimates, but its revenue of $10.12 billion fell short of expectations at $13.73 billion.
• The bank has announced a quarterly dividend increase to $1.05, reflecting a 5.5% yield, up from the previous dividend of $0.76.

Advisors Capital Management LLC increased its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 38.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 402,697 shares of the bank's stock after buying an additional 112,373 shares during the quarter. Advisors Capital Management LLC's holdings in Toronto Dominion Bank were worth $24,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in Toronto Dominion Bank by 122.9% during the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock valued at $26,000 after purchasing an additional 236 shares during the period. Financial Management Professionals Inc. increased its position in Toronto Dominion Bank by 322.4% during the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock valued at $29,000 after purchasing an additional 374 shares during the period. Moisand Fitzgerald Tamayo LLC acquired a new stake in Toronto Dominion Bank during the 1st quarter valued at approximately $32,000. CoreCap Advisors LLC increased its position in Toronto Dominion Bank by 57.5% during the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock valued at $34,000 after purchasing an additional 230 shares during the period. Finally, ORG Partners LLC acquired a new stake in Toronto Dominion Bank during the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto Dominion Bank Price Performance

Toronto Dominion Bank stock opened at $75.90 on Thursday. The stock has a market capitalization of $129.64 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 1.63 and a beta of 0.81. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $78.95. The stock's 50 day moving average price is $74.13 and its two-hundred day moving average price is $67.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.45. The firm had revenue of $10.12 billion for the quarter, compared to analysts' expectations of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. On average, equities analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 10th will be issued a $1.05 dividend. The ex-dividend date is Friday, October 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.5%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. Toronto Dominion Bank's dividend payout ratio (DPR) is 36.10%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TD shares. Zacks Research downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada increased 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 report on Friday, May 23rd. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Desjardins raised shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Finally, Scotiabank began coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $93.00.

About Toronto Dominion Bank

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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