Citizens Financial Group Inc. RI Buys Shares of 3,445 Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Citizens Financial Group Inc. RI invested approximately $207,000 in Toronto Dominion Bank, acquiring 3,445 shares in the 1st quarter.
• Toronto Dominion Bank recently reported earnings of $1.39 per share, beating analyst expectations, with revenues of $10.97 billion.
• The bank increased its quarterly dividend to $0.7568, reflecting an annualized dividend yield of 4.1%.

Citizens Financial Group Inc. RI acquired a new position 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 3,445 shares of the bank's stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TD. Goldman Sachs Group Inc. raised its stake in shares of Toronto Dominion Bank by 93.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock worth $732,252,000 after purchasing an additional 5,917,078 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Toronto Dominion Bank by 5.6% during the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock valued at $1,488,233,000 after acquiring an additional 1,491,472 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in shares of Toronto Dominion Bank by 137.3% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,258,881 shares of the bank's stock valued at $120,143,000 after acquiring an additional 1,306,946 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Toronto Dominion Bank by 9.7% during the 4th quarter. Toronto Dominion Bank now owns 10,305,222 shares of the bank's stock valued at $547,992,000 after acquiring an additional 912,401 shares during the last quarter. Finally, Canoe Financial LP acquired a new position in shares of Toronto Dominion Bank during the 1st quarter valued at about $51,226,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a report on Friday, May 23rd. Scotiabank assumed coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They set a "sector perform" rating on the stock. Finally, Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

TD traded down $0.17 during midday trading on Monday, reaching $73.08. The company's stock had a trading volume of 906,448 shares, compared to its average volume of 1,782,605. The stock has a market cap of $125.35 billion, a P/E ratio of 10.72, a PEG ratio of 1.66 and a beta of 0.84. The company has a fifty day simple moving average of $72.78 and a 200 day simple moving average of $65.03. 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 twelve month low of $51.25 and a twelve month high of $75.58.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $2.04 EPS. Research 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 announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were issued a $0.7568 dividend. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a yield of 4.1%. Toronto Dominion Bank's payout ratio is 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.