NewGen Asset Management Ltd Makes New Investment in The Toronto-Dominion Bank (NYSE:TD)

NewGen Asset Management Ltd purchased a new position in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 59,200 shares of the bank's stock, valued at approximately $3,548,000. Toronto-Dominion Bank accounts for approximately 2.3% of NewGen Asset Management Ltd's investment portfolio, making the stock its 17th largest holding.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Toronto-Dominion Bank during the 4th quarter valued at $992,204,000. FIL Ltd grew its stake in shares of Toronto-Dominion Bank by 17.3% during the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock worth $2,075,819,000 after acquiring an additional 5,756,584 shares during the last quarter. Geode Capital Management LLC increased its stake in Toronto-Dominion Bank by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock valued at $569,878,000 after purchasing an additional 2,564,648 shares in the last quarter. Mackenzie Financial Corp raised its stake in Toronto-Dominion Bank by 5.6% in the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock worth $1,488,233,000 after acquiring an additional 1,491,472 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Toronto-Dominion Bank by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock worth $3,946,072,000 after purchasing an additional 1,415,934 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded up $0.02 during midday trading on Friday, hitting $70.80. The company had a trading volume of 1,912,550 shares, compared to its average volume of 2,340,281. The business's 50-day simple moving average is $64.46 and its 200-day simple moving average is $59.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $121.97 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.95 and a beta of 0.82. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $71.05.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.14. The firm had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $13.36 billion. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. During the same period last year, the business earned $2.04 earnings per share. On average, research analysts predict that The Toronto-Dominion Bank will post 5.48 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a $0.7568 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.28%. Toronto-Dominion Bank's payout ratio is presently 44.72%.

Analysts Set New Price Targets

Several research firms recently commented on TD. Wall Street Zen raised Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Scotiabank initiated coverage on shares of Toronto-Dominion Bank in a report on Thursday, May 15th. They set a "sector perform" rating for the company. Finally, Royal Bank of Canada increased their price target on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $93.00.

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.