Toronto Dominion Bank (The) $TD Stock Holdings Increased by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board has significantly increased its stake in Toronto Dominion Bank by purchasing an additional 4.7 million shares, raising its ownership to over 10.5 million shares, valued at approximately $630.7 million.
• Several major hedge funds, including Goldman Sachs and JPMorgan Chase, have also increased their holdings in TD Bank, indicating a trend of institutional investment in the stock.
• Toronto Dominion Bank recently announced a quarterly dividend increase from $0.76 to $1.05 per share, representing a dividend yield of 5.8% and highlighting the bank's strong financial performance.

Canada Pension Plan Investment Board boosted its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 81.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,524,446 shares of the bank's stock after acquiring an additional 4,729,657 shares during the period. Canada Pension Plan Investment Board owned 0.61% of Toronto Dominion Bank worth $630,746,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Balanced Rock Investment Advisors LLC boosted its holdings in Toronto Dominion Bank by 1.1% during the 1st quarter. Balanced Rock Investment Advisors LLC now owns 14,983 shares of the bank's stock valued at $898,000 after acquiring an additional 163 shares during the period. MFA Wealth Services boosted its holdings in shares of Toronto Dominion Bank by 4.5% in the 1st quarter. MFA Wealth Services now owns 4,179 shares of the bank's stock valued at $250,000 after buying an additional 179 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Toronto Dominion Bank by 14.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,500 shares of the bank's stock worth $90,000 after purchasing an additional 190 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in Toronto Dominion Bank by 6.0% during the 1st quarter. JFS Wealth Advisors LLC now owns 3,421 shares of the bank's stock worth $205,000 after buying an additional 194 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Toronto Dominion Bank by 14.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,619 shares of the bank's stock worth $97,000 after buying an additional 202 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TD. Royal Bank Of Canada increased 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 research note on Friday, May 23rd. Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Scotiabank initiated coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Stock Performance

Shares of TD stock traded up $2.20 on Monday, hitting $75.05. 2,901,963 shares of the stock traded hands, compared to its average volume of 1,942,968. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $78.95. The company's fifty day moving average is $73.79 and its 200 day moving average is $66.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $128.73 billion, a PE ratio of 8.77, a PEG ratio of 1.63 and a beta of 0.81.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, beating the consensus estimate of $1.46 by $0.45. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The business had revenue of $10.12 billion during the quarter, compared to analyst estimates of $13.73 billion. During the same period in the previous year, the business posted $2.05 EPS. The company's quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.6%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 35.40%.

Toronto Dominion Bank Company Profile

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.