Clark Capital Management Group Inc. Buys 265,655 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Clark Capital Management Group raised its stake in Toronto Dominion Bank by 30.6%, acquiring 265,655 shares to own 1,133,531 shares valued at about $90.63 million.
• TD beat expectations for the quarter with EPS of $1.76 (vs. $1.63 expected) and revenue of $11.01 billion, up 18.1% year-over-year, with a 17.52% net margin and 14.29% ROE.
• The bank declared a quarterly dividend of $1.08 (annualized $4.32) for a 4.6% yield, while analysts’ consensus is a "Moderate Buy" with a $93 price target.

Clark Capital Management Group Inc. increased its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 30.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,133,531 shares of the bank's stock after acquiring an additional 265,655 shares during the quarter. Clark Capital Management Group Inc. owned about 0.07% of Toronto Dominion Bank worth $90,626,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TD. True Wealth Design LLC acquired a new stake in Toronto Dominion Bank during the 3rd quarter valued at approximately $27,000. Mather Group LLC. acquired a new position in shares of Toronto Dominion Bank in the 3rd quarter worth approximately $30,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Toronto Dominion Bank in the 2nd quarter valued at $32,000. Sachetta LLC bought a new stake in shares of Toronto Dominion Bank in the 3rd quarter valued at $33,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Toronto Dominion Bank by 660.9% during the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank's stock worth $38,000 after buying an additional 456 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Stock Down 0.9%

Toronto Dominion Bank stock opened at $93.22 on Friday. The company has a market capitalization of $155.80 billion, a PE ratio of 10.30, a PEG ratio of 1.06 and a beta of 0.66. Toronto Dominion Bank has a 12-month low of $54.87 and a 12-month high of $99.84. The firm's fifty day moving average is $95.48 and its 200 day moving average is $87.18. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.43 billion. During the same period in the previous year, the firm posted $2.02 earnings per share. The business's revenue was up 18.1% compared to the same quarter last year. As a group, sell-side analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be paid a $1.08 dividend. The ex-dividend date is Thursday, April 9th. This represents a $4.32 annualized dividend and a dividend yield of 4.6%. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 34.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of Toronto Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, November 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of Toronto Dominion Bank in a report on Wednesday, January 21st. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Monday, March 2nd. National Bank Financial raised Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research note on Thursday, December 18th. Finally, Zacks Research upgraded Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Two 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $93.00.

About Toronto Dominion Bank

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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