Erste Asset Management GmbH Purchases 39,762 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Erste Asset Management GmbH increased its stake in Toronto Dominion Bank by 16.2% in the fourth quarter, buying 39,762 additional shares and bringing its total holding to 285,773 shares valued at about $27.0 million.
• Toronto Dominion Bank reported better-than-expected quarterly results, with EPS of $1.74 versus estimates of $1.63 and revenue of $11.80 billion versus expectations of $11.04 billion.
• The bank also raised its quarterly dividend to $1.12 per share from $1.08, implying an annualized yield of about 4.0%; analysts currently rate the stock a consensus Moderate Buy with a $156 target price.

Erste Asset Management GmbH lifted its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 16.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 285,773 shares of the bank's stock after purchasing an additional 39,762 shares during the quarter. Erste Asset Management GmbH's holdings in Toronto Dominion Bank were worth $26,985,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its holdings in shares of Toronto Dominion Bank by 5.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 385,620 shares of the bank's stock worth $36,340,000 after buying an additional 21,340 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in shares of Toronto Dominion Bank during the fourth quarter worth approximately $106,000. Syon Capital LLC increased its holdings in shares of Toronto Dominion Bank by 2.6% during the fourth quarter. Syon Capital LLC now owns 15,166 shares of the bank's stock worth $1,429,000 after buying an additional 378 shares in the last quarter. Capital World Investors increased its holdings in shares of Toronto Dominion Bank by 1.5% during the fourth quarter. Capital World Investors now owns 81,441 shares of the bank's stock worth $7,676,000 after buying an additional 1,225 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Toronto Dominion Bank by 0.4% during the fourth quarter. Capital Research Global Investors now owns 5,711,002 shares of the bank's stock worth $538,234,000 after buying an additional 20,157 shares in the last quarter. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Stock Up 0.1%

Shares of NYSE TD opened at $113.26 on Monday. The firm's 50-day simple moving average is $105.17 and its 200 day simple moving average is $97.25. The company has a market cap of $187.15 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.25 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $69.86 and a 12-month high of $114.56.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.11. The business had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm's quarterly revenue was down 31.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 EPS. On average, research analysts expect that Toronto Dominion Bank will post 6.92 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. Stockholders of record on Friday, July 10th will be paid a $1.12 dividend. This is a boost 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 annualized dividend and a dividend yield of 4.0%. Toronto Dominion Bank's payout ratio is 48.52%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TD shares. Raymond James Financial raised shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Tuesday, May 12th. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Weiss Ratings downgraded shares of Toronto Dominion Bank from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, May 29th. Finally, Wall Street Zen downgraded shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. 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 MarketBeat, Toronto Dominion Bank presently has a consensus rating of "Moderate Buy" and an average target price of $156.00.

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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