Bank of New York Mellon Corp Takes Position in Toronto Dominion Bank (The) $TD

Key Points

• Bank of New York Mellon purchased 1.67 million Toronto-Dominion Bank shares worth approximately $202.9 million, representing a 0.10% stake. Institutional investors collectively own 52.37% of TD.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $156 price target; ratings include one Strong Buy, four Buys and four Holds.
• TD exceeded quarterly earnings and revenue expectations, reporting $1.74 in EPS and $11.8 billion in revenue, while raising its quarterly dividend to $1.12, equivalent to a 3.8% annual yield.

Bank of New York Mellon Corp bought a new position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,670,919 shares of the bank's stock, valued at approximately $202,900,000. Bank of New York Mellon Corp owned 0.10% of Toronto Dominion Bank at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bayban acquired a new stake in shares of Toronto Dominion Bank during the 4th quarter worth approximately $28,000. Harvest Fund Management Co. Ltd increased its stake in Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock valued at $30,000 after purchasing an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC bought a new stake in Toronto Dominion Bank in the fourth quarter valued at $34,000. Brown Lisle Cummings Inc. raised its holdings in shares of Toronto Dominion Bank by 88.4% during the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank's stock valued at $38,000 after purchasing an additional 191 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Toronto Dominion Bank by 177.9% during the fourth quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank's stock valued at $40,000 after purchasing an additional 274 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on TD shares. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Scotiabank raised Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, May 4th. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings raised Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

Toronto Dominion Bank Stock Up 0.2%

Shares of NYSE TD opened at $117.13 on Friday. Toronto Dominion Bank has a 52 week low of $72.73 and a 52 week high of $125.46. The business has a 50-day simple moving average of $120.49 and a two-hundred day simple moving average of $108.39. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The company has a market cap of $192.66 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.30 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm had revenue of $11.80 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the prior year, the business posted $1.97 earnings per share. The company's revenue was down 31.1% on a year-over-year basis. Research analysts anticipate that Toronto Dominion Bank will post 6.99 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date was Friday, July 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is 49.14%.

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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