Flagship Capital Management Inc. Invests $2.81 Million in Toronto Dominion Bank (The) $TD

Key Points

• Flagship Capital Management opened a new position in Toronto Dominion Bank, buying 29,782 shares valued at about $2.81 million, making TD 2.0% of Flagship’s holdings and its 17th largest position.
• TD beat quarterly expectations with $1.76 EPS vs. $1.63 expected and revenue of $11.01 billion (up 18.1% YoY), and announced a quarterly dividend of $1.08 per share (annualized $4.32, yield 4.3%; ex-dividend Apr 9, payable Apr 30).
• About 52.37% of TD is held by hedge funds and other institutional investors; analysts’ consensus is a “Moderate Buy” with an average price target of $93 (ratings mix: 3 Strong Buy, 2 Buy, 4 Hold).

Flagship Capital Management Inc. bought a new position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,782 shares of the bank's stock, valued at approximately $2,805,000. Toronto Dominion Bank makes up 2.0% of Flagship Capital Management Inc.'s holdings, making the stock its 17th largest position.

A number of other large investors have also modified their holdings of the business. JCIC Asset Management Inc. raised its stake in shares of Toronto Dominion Bank by 891.5% during the 4th quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank's stock worth $8,035,000 after buying an additional 76,650 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in Toronto Dominion Bank by 433.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank's stock valued at $1,528,000 after purchasing an additional 13,179 shares in the last quarter. Main Line Retirement Advisors LLC increased its stake in Toronto Dominion Bank by 0.9% in the 4th quarter. Main Line Retirement Advisors LLC now owns 12,152 shares of the bank's stock valued at $1,145,000 after purchasing an additional 109 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Toronto Dominion Bank in the 4th quarter valued at approximately $95,000. Finally, Sound Income Strategies LLC increased its stake in Toronto Dominion Bank by 80.6% in the 4th quarter. Sound Income Strategies LLC now owns 466 shares of the bank's stock valued at $44,000 after purchasing an additional 208 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Price Performance

Shares of NYSE:TD opened at $99.85 on Friday. The business's fifty day moving average price is $95.60 and its two-hundred day moving average price is $89.56. The stock has a market cap of $166.35 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.13 and a beta of 0.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05. Toronto Dominion Bank has a one year low of $55.51 and a one year high of $100.00.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm had revenue of $11.01 billion for the quarter, compared to analysts' expectations of $10.43 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. Toronto Dominion Bank's quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be issued a dividend of $1.08 per share. The ex-dividend date is Thursday, April 9th. This represents a $4.32 annualized dividend and a dividend yield of 4.3%. Toronto Dominion Bank's dividend payout ratio (DPR) is 34.81%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TD shares. Zacks Research raised Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 18th. Weiss Ratings raised Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research note on Friday, March 27th. National Bank Financial raised Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research note on Thursday, December 18th. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Monday, March 2nd. Finally, Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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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