Compass Financial Management LLC Acquires New Shares in Toronto Dominion Bank (The) $TD

Key Points

• Compass Financial Management acquired 21,836 TD shares in the third quarter, valued at approximately $2.57 million; institutional investors and hedge funds own 52.37% of the stock.
• TD reported quarterly EPS of $1.98, beating the $1.74 analyst consensus, while revenue of $12.07 billion also exceeded estimates. Analysts’ consensus rating is “Moderate Buy,” with a $148 price target.
• TD paid a quarterly dividend of C$1.12 per share, equivalent to a 3.5% annualized yield, and authorized a share repurchase plan of up to $7.14 billion, or 3.5% of its shares.

Compass Financial Management LLC acquired a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,836 shares of the bank's stock, valued at approximately $2,566,000.

Other institutional investors also recently modified their holdings of the company. Integrity Alliance LLC. acquired a new stake in Toronto Dominion Bank in the 3rd quarter valued at $1,128,000. Next Level Wealth Planning LLC bought a new stake in Toronto Dominion Bank during the 3rd quarter valued at $129,000. Vise Technologies Inc. raised its holdings in Toronto Dominion Bank by 14.4% during the third quarter. Vise Technologies Inc. now owns 54,984 shares of the bank's stock worth $6,462,000 after buying an additional 6,901 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in Toronto Dominion Bank by 8.8% during the third quarter. Cidel Asset Management Inc. now owns 487,707 shares of the bank's stock worth $57,480,000 after buying an additional 39,409 shares during the last quarter. Finally, Canopy Partners LLC raised its holdings in Toronto Dominion Bank by 16.8% during the third quarter. Canopy Partners LLC now owns 3,190 shares of the bank's stock worth $375,000 after buying an additional 458 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TD. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Keefe, Bruyette & Woods started coverage on shares of Toronto Dominion Bank in a research report on Friday, August 21st. They set a "market perform" rating for the company. Finally, Weiss Ratings upgraded shares of Toronto Dominion Bank from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $148.00.

Toronto Dominion Bank Stock Performance

Shares of Toronto Dominion Bank stock opened at $128.15 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $208.78 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72. Toronto Dominion Bank has a 12 month low of $79.52 and a 12 month high of $128.53. The business's fifty day simple moving average is $120.99 and its 200 day simple moving average is $110.93.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.24. The firm had revenue of $12.07 billion during the quarter, compared to the consensus estimate of $10.70 billion. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. The company's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. As a group, analysts anticipate that Toronto Dominion Bank will post 7.04 EPS for the current year.

Toronto Dominion Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Friday, October 9th were issued a dividend of C$1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, October 9th. Toronto Dominion Bank's payout ratio is presently 46.81%.

Toronto Dominion Bank announced that its board has authorized a stock repurchase plan on Wednesday, September 30th that allows the company to buy back $7.14 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 3.5% of its stock through open market purchases. Share repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Toronto Dominion Bank Profile

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.

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