Dimensional Fund Advisors LP Raises Stock Holdings in Toronto Dominion Bank (The) $TD

Key Points

• Dimensional Fund Advisors LP boosted its stake in Toronto Dominion Bank by 8.4% in the first quarter, adding 589,316 shares to bring its total to 7,565,982 shares valued at about $705.95 million.
• Several analysts have updated their views on TD, with mixed rating changes overall, but the consensus remains Moderate Buy and the average price target sits at $156.
• Toronto Dominion Bank reported quarterly earnings of $1.74 per share, beating estimates, and raised its quarterly dividend to $1.12 per share from $1.08, implying an annualized yield of about 3.6%.

Dimensional Fund Advisors LP increased its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 8.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,565,982 shares of the bank's stock after acquiring an additional 589,316 shares during the period. Dimensional Fund Advisors LP owned about 0.46% of Toronto Dominion Bank worth $705,950,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Main Line Retirement Advisors LLC grew its position in Toronto Dominion Bank by 0.8% in the 1st quarter. Main Line Retirement Advisors LLC now owns 12,254 shares of the bank's stock valued at $1,143,000 after acquiring an additional 102 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Toronto Dominion Bank by 1.8% during the first quarter. Chicago Partners Investment Group LLC now owns 5,735 shares of the bank's stock worth $535,000 after purchasing an additional 102 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Toronto Dominion Bank by 1.5% during the first quarter. Checchi Capital Advisers LLC now owns 7,194 shares of the bank's stock valued at $671,000 after purchasing an additional 104 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of Toronto Dominion Bank by 12.4% during the fourth quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank's stock valued at $104,000 after purchasing an additional 122 shares during the period. Finally, Valmark Advisers Inc. grew its holdings in shares of Toronto Dominion Bank by 0.8% in the first quarter. Valmark Advisers Inc. now owns 16,057 shares of the bank's stock worth $1,498,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on TD. Weiss Ratings downgraded shares of Toronto Dominion Bank from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, June 11th. Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Raymond James Financial upgraded shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. Scotiabank raised shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Toronto Dominion Bank has an average rating of "Moderate Buy" and an average price target of $156.00.

Toronto Dominion Bank Price Performance

TD opened at $123.69 on Monday. The company has a market capitalization of $203.95 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.38 and a beta of 0.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $72.21 and a 12-month high of $124.87. The business's fifty day simple moving average is $116.01 and its 200-day simple moving average is $103.87.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the company posted $1.97 earnings per share. The firm's quarterly revenue was down 31.1% on a year-over-year basis. On average, equities research analysts anticipate that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be given a dividend of $1.12 per share. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. Toronto Dominion Bank's payout ratio 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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