Mediolanum International Funds Ltd Grows Stock Holdings in Toronto Dominion Bank (The) $TD

Key Points

• Mediolanum International Funds Ltd increased its stake in Toronto Dominion Bank by 24% in the first quarter, holding 196,912 shares valued at about $18.0 million.
• Toronto Dominion Bank reported better-than-expected quarterly results, with EPS of $1.74 versus $1.63 expected and revenue of $11.80 billion versus $11.04 billion estimated.
• The bank also raised its quarterly dividend to $1.12 per share from $1.08, while analysts currently rate the stock Moderate Buy with a consensus target price of $156.

Mediolanum International Funds Ltd grew its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 24.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,912 shares of the bank's stock after acquiring an additional 38,108 shares during the period. Mediolanum International Funds Ltd's holdings in Toronto Dominion Bank were worth $18,038,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TD. Norges Bank bought a new stake in shares of Toronto Dominion Bank in the fourth quarter worth about $2,125,963,000. Auto Owners Insurance Co raised its position in Toronto Dominion Bank by 9,320.0% during the 4th quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank's stock valued at $396,544,000 after purchasing an additional 3,923,347 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Toronto Dominion Bank by 41.6% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank's stock valued at $1,121,660,000 after purchasing an additional 3,496,645 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Toronto Dominion Bank in the 4th quarter worth approximately $299,850,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Toronto Dominion Bank by 25.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank's stock worth $1,432,854,000 after buying an additional 3,129,457 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock opened at $123.69 on Monday. Toronto Dominion Bank has a fifty-two week low of $72.21 and a fifty-two week high of $124.87. The stock's 50 day simple moving average is $116.01 and its two-hundred day simple moving average is $103.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $203.95 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.38 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 14.83% and a net margin of 13.20%.The business's revenue was down 31.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.97 EPS. As a group, analysts expect that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Friday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.6%. Toronto Dominion Bank's payout ratio is currently 49.14%.

Wall Street Analysts Forecast Growth

TD has been the topic of several research analyst reports. Scotiabank raised Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, May 4th. Wall Street Zen lowered Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Royal Bank Of Canada raised their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Raymond James Financial upgraded shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Tuesday, May 12th. Finally, Weiss Ratings downgraded shares of Toronto Dominion Bank from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $156.00.

Toronto Dominion Bank Company Profile

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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