JPMorgan Chase & Co. Grows Holdings in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• JPMorgan Chase & Co. has increased its ownership in Toronto Dominion Bank by 38.6%, acquiring an additional 2,780,984 shares and bringing its total holdings to approximately 10 million shares valued at about $599 million.
• Toronto Dominion Bank has raised its quarterly dividend from $0.73 to $0.7568, reflecting a 4.1% yield and a payout ratio of 45.31%.
• Analysts have given Toronto Dominion Bank a consensus rating of "Hold" with a price target increase to $93.00, indicating positive sentiment following recent performance.

JPMorgan Chase & Co. boosted its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 38.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,994,402 shares of the bank's stock after acquiring an additional 2,780,984 shares during the period. JPMorgan Chase & Co. owned 0.58% of Toronto Dominion Bank worth $599,064,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its position in shares of Toronto Dominion Bank by 122.9% in the first quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock valued at $26,000 after acquiring an additional 236 shares during the period. Financial Management Professionals Inc. boosted its position in shares of Toronto Dominion Bank by 322.4% in the first quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock valued at $29,000 after acquiring an additional 374 shares during the period. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Toronto Dominion Bank in the first quarter valued at approximately $32,000. CoreCap Advisors LLC boosted its position in shares of Toronto Dominion Bank by 57.5% in the fourth quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock valued at $34,000 after acquiring an additional 230 shares during the period. Finally, ORG Partners LLC bought a new position in shares of Toronto Dominion Bank in the first quarter valued at approximately $34,000. Institutional investors own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TD shares. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Royal Bank Of Canada lifted their target price on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research report on Friday, May 23rd. Scotiabank assumed coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Finally, Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Down 0.6%

Shares of TD traded down $0.44 during mid-day trading on Friday, reaching $74.08. The company's stock had a trading volume of 1,167,136 shares, compared to its average volume of 1,782,312. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52 week low of $51.25 and a 52 week high of $75.58. The company's fifty day moving average price is $73.11 and its two-hundred day moving average price is $65.38. The stock has a market cap of $127.06 billion, a PE ratio of 10.86, a P/E/G ratio of 1.68 and a beta of 0.84.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $13.36 billion. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. During the same period in the prior year, the business posted $2.04 EPS. On average, analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were given a $0.7568 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's payout ratio is currently 45.31%.

Toronto Dominion Bank 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.