Healthcare of Ontario Pension Plan Trust Fund Acquires 3,496,645 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Toronto Dominion Bank stake by 41.6% in the fourth quarter, buying 3,496,645 additional shares. The fund now owns 11,899,945 shares worth about $1.12 billion, making TD its 12th-largest holding.
• Toronto Dominion Bank received a mixed set of analyst actions, but the overall view remains Moderate Buy with a consensus price target of $156.00. Recent moves included upgrades from Scotiabank and RBC, while other firms issued downgrades.
• TD beat quarterly expectations with EPS of $1.74 versus the $1.63 estimate and revenue of $11.80 billion versus $11.04 billion expected. The bank also raised its quarterly dividend to $1.12 per share, up from $1.08.

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 41.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,899,945 shares of the bank's stock after purchasing an additional 3,496,645 shares during the period. Toronto Dominion Bank makes up about 1.9% of Healthcare of Ontario Pension Plan Trust Fund's holdings, making the stock its 12th biggest position. Healthcare of Ontario Pension Plan Trust Fund owned about 0.71% of Toronto Dominion Bank worth $1,121,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Main Line Retirement Advisors LLC raised its position in shares of Toronto Dominion Bank by 0.9% in the fourth 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 during the period. Rosenberg Matthew Hamilton raised its position in shares of Toronto Dominion Bank by 8.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,489 shares of the bank's stock valued at $140,000 after purchasing an additional 118 shares during the period. Richardson Financial Services Inc. raised its position in shares of Toronto Dominion Bank by 12.4% in the fourth quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank's stock valued at $104,000 after purchasing an additional 122 shares during the period. Commons Capital LLC raised its position in shares of Toronto Dominion Bank by 0.7% in the third quarter. Commons Capital LLC now owns 18,251 shares of the bank's stock valued at $1,459,000 after purchasing an additional 134 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of Toronto Dominion Bank by 4.8% in the third quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank's stock valued at $233,000 after purchasing an additional 134 shares during the period. Institutional investors own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

TD has been the topic of several research reports. Scotiabank raised shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 4th. Weiss Ratings lowered shares of Toronto Dominion Bank from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, May 29th. Wall Street Zen lowered shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. Finally, Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $156.00.

Toronto Dominion Bank Trading Up 0.9%

Shares of TD opened at $117.32 on Friday. The firm has a market cap of $193.87 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.30 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a fifty-two week low of $70.09 and a fifty-two week high of $117.95. The firm has a 50 day moving average price of $107.43 and a 200-day moving average price of $98.32.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 13.20% and a return on equity of 14.83%. The business's quarterly revenue was down 31.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.97 EPS. As a group, equities research analysts forecast that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date 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 presently 48.52%.

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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