First Trust Advisors LP Purchases 39,608 Shares of Toronto Dominion Bank (The) $TD

Key Points

• First Trust Advisors increased its Toronto-Dominion Bank holdings by 7% in the first quarter, adding 39,608 shares for a total position of 601,469 shares valued at approximately $56.1 million. Institutional investors collectively own 52.37% of the company.
• Toronto-Dominion Bank reported quarterly EPS of $1.74, exceeding estimates of $1.63, while revenue of $11.80 billion also beat expectations. However, revenue declined 31.1% year over year.
• The bank raised its quarterly dividend to $1.12 per share, implying an annualized dividend of $4.48 and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $156.

First Trust Advisors LP raised its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 7.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 601,469 shares of the bank's stock after purchasing an additional 39,608 shares during the period. First Trust Advisors LP's holdings in Toronto Dominion Bank were worth $56,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bayban acquired a new position in Toronto Dominion Bank in the fourth quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd boosted its stake in Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock valued at $30,000 after acquiring an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC bought a new stake in shares of Toronto Dominion Bank during the 4th quarter valued at $34,000. Brown Lisle Cummings Inc. raised its position in shares of Toronto Dominion Bank by 88.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank's stock valued at $38,000 after acquiring an additional 191 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Toronto Dominion Bank by 660.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank's stock valued at $38,000 after purchasing an additional 456 shares during the period. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Stock Performance

Shares of Toronto Dominion Bank stock opened at $119.82 on Monday. The stock's fifty day simple moving average is $117.29 and its 200 day simple moving average is $104.77. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $197.09 billion, a PE ratio of 18.69, a PEG ratio of 1.34 and a beta of 0.71. Toronto Dominion Bank has a 12 month low of $72.21 and a 12 month high of $124.87.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion during the quarter, compared to analysts' expectations of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company's revenue was down 31.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.97 earnings per share. On average, research analysts predict that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 49.14%.

Analyst Ratings Changes

TD has been the subject of a number of analyst reports. Raymond James Financial raised Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. Weiss Ratings lowered Toronto Dominion Bank from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 21st. Wall Street Zen cut Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Finally, Zacks Research downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average 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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