Hsbc Holdings PLC Increases Holdings in Toronto Dominion Bank (The) $TD

Key Points

• HSBC Holdings PLC increased its stake in Toronto-Dominion Bank by 54.3% in the first quarter, ending with 97,998 shares valued at about $9.1 million.
• Several analysts remain constructive on TD, with a consensus rating of “Moderate Buy” and an average price target of $156, despite one recent downgrade to sell.
• Toronto-Dominion Bank reported better-than-expected earnings of $1.74 per share and also raised its quarterly dividend to $1.12 per share, implying an annualized yield of about 3.7%.

Hsbc Holdings PLC lifted its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 54.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,998 shares of the bank's stock after acquiring an additional 34,499 shares during the period. Hsbc Holdings PLC's holdings in Toronto Dominion Bank were worth $9,119,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

TD has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Scotiabank upgraded shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 4th. Weiss Ratings lowered shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Finally, Raymond James Financial upgraded Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Toronto Dominion Bank presently has a consensus rating of "Moderate Buy" and an average target price of $156.00.

Toronto Dominion Bank Trading Up 0.6%

NYSE TD opened at $121.23 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market cap of $199.40 billion, a PE ratio of 18.91, a PEG ratio of 1.34 and a beta of 0.71. The company's 50-day moving average price is $116.82 and its 200-day moving average price is $104.43. Toronto Dominion Bank has a 12 month low of $72.21 and a 12 month high of $124.87.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.11. The business had revenue of $11.80 billion for 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 company's quarterly revenue was down 31.1% compared to the same quarter last year. During the same period last year, the company posted $1.97 earnings per share. Equities research analysts forecast that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be given a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. Toronto Dominion Bank's dividend payout ratio is presently 49.14%.

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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