Foster & Motley Inc. Takes $2.04 Million Position in Toronto Dominion Bank (The) $TD

Key Points

• Foster & Motley Inc. purchased 16,839 shares of Toronto-Dominion Bank during the second quarter, establishing a position valued at approximately $2.04 million. Institutional investors collectively own 52.37% of the stock.
• TD reported quarterly earnings of $1.74 per share, exceeding the $1.63 consensus estimate, while revenue reached $11.80 billion. However, revenue declined 31.1% year over year.
• The bank increased its quarterly dividend to $1.12 per share, equivalent to an annualized $4.48 payout and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus rating with a $156 average price target.

Foster & Motley Inc. purchased a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 16,839 shares of the bank's stock, valued at approximately $2,045,000.

Several other institutional investors and hedge funds also recently bought and sold shares of TD. Bayban bought a new stake in Toronto Dominion Bank during the 4th quarter valued at $28,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock worth $30,000 after acquiring an additional 168 shares during the period. CBIZ Investment Advisory Services LLC bought a new position in shares of Toronto Dominion Bank in the fourth quarter worth $34,000. Brown Lisle Cummings Inc. grew its position in shares of Toronto Dominion Bank by 88.4% in the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank's stock valued at $38,000 after purchasing an additional 191 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Toronto Dominion Bank by 660.9% in the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank's stock valued at $38,000 after purchasing an additional 456 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Trading Down 1.9%

NYSE TD opened at $122.03 on Wednesday. The stock's 50-day simple moving average is $120.40 and its two-hundred day simple moving average is $108.00. Toronto Dominion Bank has a twelve month low of $72.73 and a twelve month high of $125.46. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $200.71 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.38 and a beta of 0.72.

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 firm had revenue of $11.80 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 earnings per share. Research analysts forecast that Toronto Dominion Bank will post 6.9 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was 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 is presently 49.14%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Raymond James Financial upgraded Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Scotiabank raised shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada increased their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Toronto Dominion Bank has an average rating of "Moderate Buy" and a consensus target price of $156.00.

Toronto Dominion Bank 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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