Advisors Capital Management LLC Purchases 11,586 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Advisors Capital Management increased its stake in Toronto‑Dominion Bank by 2.7%, buying 11,586 shares to hold 437,323 shares worth about $41.20 million at quarter end.
• TD beat expectations for the most recent quarter with $1.76 EPS versus $1.63 expected and $11.01 billion in revenue (up 18.1% year‑over‑year), while analysts forecast roughly 6.87 EPS for the full year.
• The bank announced a quarterly dividend of $1.08 ($4.32 annual, a 4.1% yield, ex‑dividend April 9), its stock trades near $105 with a MarketBeat consensus rating of Moderate Buy and an average price target of $93.

Advisors Capital Management LLC lifted its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 437,323 shares of the bank's stock after purchasing an additional 11,586 shares during the quarter. Advisors Capital Management LLC's holdings in Toronto Dominion Bank were worth $41,196,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Canerector Inc. raised its position in Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank's stock valued at $1,779,367,000 after purchasing an additional 22,056,000 shares during the period. Massachusetts Financial Services Co. MA raised its position in Toronto Dominion Bank by 25.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank's stock valued at $1,432,854,000 after purchasing an additional 3,129,457 shares during the period. Quadrature Capital Ltd raised its position in Toronto Dominion Bank by 5,566.3% during the third quarter. Quadrature Capital Ltd now owns 2,451,600 shares of the bank's stock valued at $196,028,000 after purchasing an additional 2,408,334 shares during the period. Caisse de depot et placement du Quebec raised its position in Toronto Dominion Bank by 70.1% during the third quarter. Caisse de depot et placement du Quebec now owns 2,360,000 shares of the bank's stock valued at $188,746,000 after purchasing an additional 972,513 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in Toronto Dominion Bank by 85.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,845,369 shares of the bank's stock valued at $147,556,000 after purchasing an additional 848,662 shares during the period. 52.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TD shares. Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday, March 27th. Zacks Research upgraded Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.00.

Toronto Dominion Bank Trading Up 0.0%

TD opened at $105.08 on Friday. The stock has a market cap of $174.03 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.20 and a beta of 0.65. The stock's 50 day moving average price is $97.41 and its 200-day moving average price is $91.51. Toronto Dominion Bank has a one year low of $61.88 and a one year high of $106.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.13. The firm had revenue of $11.01 billion for the quarter, compared to analysts' expectations of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The company's quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.02 earnings per share. On average, equities analysts forecast that Toronto Dominion Bank will post 6.87 EPS for the current year.

Toronto Dominion Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.1%. Toronto Dominion Bank's dividend payout ratio is currently 34.36%.

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.

Want to see what other hedge funds are holding TD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.