Goldman Sachs Group Inc. Raises Position in Toronto Dominion Bank (The) $TD

Key Points

• Goldman Sachs Group Inc. increased its position in Toronto Dominion Bank by 93.9% in the first quarter, now holding over 12.2 million shares worth approximately $732 million.
• The bank increased its quarterly dividend from $0.76 to $1.05 per share, representing an annualized dividend of $4.20 and a yield of 5.6%.
• Toronto Dominion Bank reported $1.91 EPS for its latest quarter, surpassing analysts' estimates, while revenue grew 7.9% year-over-year despite falling short of expectations.

Goldman Sachs Group Inc. boosted its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 93.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,216,411 shares of the bank's stock after buying an additional 5,917,078 shares during the period. Goldman Sachs Group Inc. owned 0.71% of Toronto Dominion Bank worth $732,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TD. Mercer Global Advisors Inc. ADV lifted its position in Toronto Dominion Bank by 4.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,272 shares of the bank's stock worth $653,000 after acquiring an additional 502 shares in the last quarter. Baird Financial Group Inc. grew its stake in Toronto Dominion Bank by 35.5% during the 4th quarter. Baird Financial Group Inc. now owns 6,976 shares of the bank's stock worth $371,000 after buying an additional 1,826 shares during the last quarter. Centiva Capital LP bought a new position in Toronto Dominion Bank during the 4th quarter worth $299,000. CoreCap Advisors LLC grew its stake in Toronto Dominion Bank by 57.5% during the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after buying an additional 230 shares during the last quarter. Finally, Ethic Inc. increased its holdings in shares of Toronto Dominion Bank by 64.8% during the fourth quarter. Ethic Inc. now owns 8,438 shares of the bank's stock valued at $449,000 after purchasing an additional 3,319 shares during the period. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Trading Down 0.3%

TD stock opened at $74.45 on Monday. The company has a market cap of $127.17 billion, a P/E ratio of 8.70, a PEG ratio of 1.61 and a beta of 0.81. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $78.95. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $74.05 and a 200-day moving average of $67.11.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.45. The business had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The firm's revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 earnings per share. As a group, equities research analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be given a dividend of $1.05 per share. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. This represents a $4.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 10th. Toronto Dominion Bank's payout ratio is currently 36.10%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TD shares. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Scotiabank began coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Zacks Research downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Finally, Royal Bank Of Canada raised their price objective on 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. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Company Profile

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.

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