Alberta Investment Management Corp Grows Stake in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Alberta Investment Management Corp increased its stake in Toronto Dominion Bank by 2.9%, owning a total of 4,629,156 shares worth approximately $277 million, making it the bank's 4th largest holding.
• Toronto Dominion Bank recently disclosed a quarterly dividend increase from $0.73 to $0.7568, resulting in an annual yield of 4.2%.
• Analysts have given Toronto Dominion Bank a consensus rating of "Hold" with a price target of $93.00, reflecting mixed sentiment with one sell rating and two buy ratings among the analysts.

Alberta Investment Management Corp increased its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 2.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,629,156 shares of the bank's stock after acquiring an additional 131,158 shares during the period. Toronto Dominion Bank comprises approximately 1.9% of Alberta Investment Management Corp's investment portfolio, making the stock its 4th largest holding. Alberta Investment Management Corp owned 0.27% of Toronto Dominion Bank worth $277,347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC lifted its position in shares of Toronto Dominion Bank by 122.9% in the first quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock valued at $26,000 after buying an additional 236 shares during the last quarter. Financial Management Professionals Inc. lifted its position in shares of Toronto Dominion Bank by 322.4% in the first quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock valued at $29,000 after buying an additional 374 shares during the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Toronto Dominion Bank in the first quarter valued at approximately $32,000. ORG Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the first quarter valued at approximately $34,000. Finally, CoreCap Advisors LLC lifted 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 valued at $34,000 after buying an additional 230 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

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

Toronto Dominion Bank Stock Performance

NYSE:TD opened at $72.89 on Friday. The stock has a market cap of $125.02 billion, a P/E ratio of 10.69, a PEG ratio of 1.66 and a beta of 0.83. The stock has a 50 day simple moving average of $72.12 and a 200 day simple moving average of $64.11. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $75.58.

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, topping the consensus estimate of $1.25 by $0.14. The business 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 period last year, the firm posted $2.04 EPS. Research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were issued a $0.7568 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $3.03 annualized dividend and a yield of 4.2%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's payout ratio is presently 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.

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