American Century Companies Inc. Grows Stock Holdings in Toronto Dominion Bank (The) $TD

Key Points

• American Century Companies Inc. raised its stake in Toronto Dominion Bank by 12.4% in Q3, adding 39,101 shares to hold 355,364 shares valued at about $28.42 million.
• TD topped quarterly estimates with EPS of $1.76 versus $1.63 expected and revenue of $11.01 billion (up 18.1% YoY), and declared a quarterly dividend of $1.08 per share (annualized $4.32) for a ~4.5% yield.
• Analysts have a consensus rating of Moderate Buy with an average target of $93.00, while TD trades near $95.64 (12‑month high $99.84) and has a market cap of about $159.8 billion.

American Century Companies Inc. grew its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 12.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 355,364 shares of the bank's stock after buying an additional 39,101 shares during the period. American Century Companies Inc.'s holdings in Toronto Dominion Bank were worth $28,415,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TD. True Wealth Design LLC bought a new position in shares of Toronto Dominion Bank during the 3rd quarter worth approximately $27,000. Mather Group LLC. acquired a new stake in Toronto Dominion Bank in the third quarter valued at approximately $30,000. Elevation Point Wealth Partners LLC acquired a new stake in Toronto Dominion Bank in the second quarter valued at approximately $32,000. Sachetta LLC purchased a new position in Toronto Dominion Bank in the third quarter worth $33,000. Finally, Tobam grew its holdings in Toronto Dominion Bank by 44.5% in the second quarter. Tobam now owns 490 shares of the bank's stock worth $36,000 after purchasing an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

TD has been the subject of several analyst reports. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Monday, March 2nd. Jefferies Financial Group downgraded Toronto Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Toronto Dominion Bank in a research report on Wednesday, January 21st. Zacks Research upgraded Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.00.

Toronto Dominion Bank Trading Down 1.5%

NYSE TD opened at $95.64 on Monday. Toronto Dominion Bank has a 12-month low of $54.87 and a 12-month high of $99.84. The company has a fifty day simple moving average of $95.43 and a two-hundred day simple moving average of $86.54. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. The stock has a market cap of $159.84 billion, a P/E ratio of 10.57, a P/E/G ratio of 1.09 and a beta of 0.66.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The firm had revenue of $11.01 billion for the quarter, compared to analyst estimates of $10.43 billion. During the same period in the previous year, the company earned $2.02 earnings per share. The business's quarterly revenue was up 18.1% compared to the same quarter last year. On average, analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.5%. The ex-dividend date is Thursday, April 9th. Toronto Dominion Bank's payout ratio is presently 34.92%.

Toronto Dominion Bank Company 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.

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