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

Several other large investors also recently added to or reduced their stakes in TD. Larson Financial Group LLC boosted its stake in Toronto Dominion Bank by 122.9% in the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock worth $26,000 after purchasing an additional 236 shares during the period. Financial Management Professionals Inc. lifted its position in Toronto Dominion Bank by 322.4% in the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock worth $29,000 after buying an additional 374 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in Toronto Dominion Bank in the 1st quarter worth approximately $32,000. CoreCap Advisors LLC lifted its position in Toronto Dominion Bank by 57.5% in 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, ORG Partners LLC purchased a new position in Toronto Dominion Bank in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TD shares. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Royal Bank Of Canada upped their price target on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. Finally, Scotiabank started coverage on Toronto Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Toronto Dominion Bank presently has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Down 0.2%

Toronto Dominion Bank stock opened at $73.08 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $75.58. The stock has a market capitalization of $125.35 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.66 and a beta of 0.84. The business's fifty day moving average is $72.78 and its 200 day moving average is $65.03.

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

Toronto Dominion Bank Increases Dividend

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

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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