Forum Financial Management LP Purchases 7,313 Shares of The Toronto-Dominion Bank (NYSE:TD)

Forum Financial Management LP boosted its holdings in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 64.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,711 shares of the bank's stock after purchasing an additional 7,313 shares during the period. Forum Financial Management LP's holdings in Toronto-Dominion Bank were worth $996,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Toronto-Dominion Bank in the fourth quarter valued at $992,204,000. FIL Ltd lifted its stake in Toronto-Dominion Bank by 17.3% in the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock valued at $2,075,819,000 after acquiring an additional 5,756,584 shares during the last quarter. Geode Capital Management LLC lifted its stake in Toronto-Dominion Bank by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock valued at $569,878,000 after acquiring an additional 2,564,648 shares during the last quarter. Vanguard Group Inc. lifted its stake in Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after acquiring an additional 1,415,934 shares during the last quarter. Finally, Burgundy Asset Management Ltd. lifted its stake in Toronto-Dominion Bank by 137.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,258,881 shares of the bank's stock valued at $120,143,000 after acquiring an additional 1,306,946 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TD shares. Scotiabank started coverage on shares of Toronto-Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Royal Bank of Canada increased their price target on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Toronto-Dominion Bank currently has a consensus rating of "Hold" and an average price target of $93.00.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD traded up $0.61 during mid-day trading on Thursday, reaching $68.72. 1,640,645 shares of the company were exchanged, compared to its average volume of 2,365,731. The company's 50-day simple moving average is $61.87 and its 200-day simple moving average is $58.37. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $119.28 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.95 and a beta of 0.81. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $68.76.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.14. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. The company had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $13.36 billion. During the same quarter last year, the company posted $2.04 EPS. As a group, research analysts predict that The Toronto-Dominion Bank will post 5.48 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a dividend of $0.7568 per share. This represents a $3.03 dividend on an annualized basis and a yield of 4.41%. This is a positive change from Toronto-Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date is Thursday, July 10th. Toronto-Dominion Bank's dividend payout ratio (DPR) is currently 42.67%.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.