19,905 Shares in Toronto Dominion Bank (The) (NYSE:TD) Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has acquired 19,905 shares of Toronto Dominion Bank for approximately $1.19 million in the first quarter.
• Toronto Dominion Bank has increased its quarterly dividend to $0.7568 per share, resulting in an annual yield of 4.1%.
• The bank recently reported earnings of $1.39 per share, exceeding analyst expectations, with a revenue of $10.97 billion for the quarter.

Aigen Investment Management LP acquired a new stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 19,905 shares of the bank's stock, valued at approximately $1,193,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Toronto Dominion Bank by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 74,634,839 shares of the bank's stock worth $4,472,194,000 after purchasing an additional 516,288 shares during the period. TD Asset Management Inc boosted its stake in shares of Toronto Dominion Bank by 0.4% in the 1st quarter. TD Asset Management Inc now owns 37,035,579 shares of the bank's stock valued at $2,218,918,000 after buying an additional 162,563 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Toronto Dominion Bank by 4.5% in the 1st quarter. Mackenzie Financial Corp now owns 29,252,736 shares of the bank's stock valued at $1,752,806,000 after buying an additional 1,262,062 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Toronto Dominion Bank by 1.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank's stock valued at $743,037,000 after buying an additional 181,781 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Toronto Dominion Bank by 93.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock valued at $732,252,000 after buying an additional 5,917,078 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TD has been the subject of several recent research reports. Scotiabank initiated coverage on Toronto Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Wall Street Zen upgraded 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 Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research report on Friday, May 23rd. Finally, Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Stock Performance

NYSE TD traded up $1.27 on Wednesday, reaching $74.48. The stock had a trading volume of 2,886,315 shares, compared to its average volume of 1,741,902. 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 has a 12-month low of $51.25 and a 12-month high of $75.58. The business's 50-day moving average price is $72.84 and its 200 day moving average price is $65.09. The stock has a market cap of $127.74 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.66 and a beta of 0.84.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The company had revenue of $10.97 billion during the quarter, compared to analysts' expectations 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 previous year, the business earned $2.04 earnings per share. As a group, equities analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

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

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.