AGF Management Ltd. Has $220.58 Million Position in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• AGF Management Ltd. has reduced its shareholding in Toronto Dominion Bank by 26.4%, now owning 3,680,060 shares, which represent about 1.2% of its total holdings.
• The Toronto Dominion Bank recently reported earnings of $1.39 per share, surpassing analysts' estimates of $1.25, with revenues of $10.97 billion for the quarter.
• The bank declared a quarterly dividend of $0.7568 per share, up from the previous quarterly dividend of $0.73, reflecting a dividend yield of 4.1%.

AGF Management Ltd. cut its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 26.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,680,060 shares of the bank's stock after selling 1,316,769 shares during the quarter. Toronto Dominion Bank accounts for about 1.2% of AGF Management Ltd.'s portfolio, making the stock its 18th largest position. AGF Management Ltd. owned about 0.21% of Toronto Dominion Bank worth $220,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in Toronto Dominion Bank by 122.9% during the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock worth $26,000 after acquiring an additional 236 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in Toronto Dominion Bank by 322.4% during the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock worth $29,000 after acquiring an additional 374 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in Toronto Dominion Bank during the 1st quarter worth approximately $32,000. ORG Partners LLC bought a new stake in Toronto Dominion Bank during the 1st quarter worth approximately $34,000. Finally, CoreCap Advisors LLC grew its holdings in Toronto Dominion Bank by 57.5% during the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after acquiring an additional 230 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Trading Up 0.2%

Shares of NYSE TD traded up $0.17 during midday trading on Tuesday, reaching $73.25. The stock had a trading volume of 1,153,800 shares, compared to its average volume of 1,756,418. The firm has a market cap of $125.64 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.65 and a beta of 0.84. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $75.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The company's 50 day moving average price is $72.84 and its 200 day moving average price is $65.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the company earned $2.04 EPS. As a group, sell-side analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were given a dividend of $0.7568 per share. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Thursday, July 10th. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio is presently 45.31%.

Analysts Set New Price Targets

TD has been the topic of a number of research reports. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Royal Bank Of Canada boosted their target price on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a report on Friday, May 23rd. Finally, Scotiabank initiated coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average 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.