NewGen Asset Management Ltd Takes $3.55 Million Position in The Toronto-Dominion Bank (NYSE:TD)

NewGen Asset Management Ltd acquired a new stake in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 59,200 shares of the bank's stock, valued at approximately $3,548,000. Toronto-Dominion Bank comprises about 2.3% of NewGen Asset Management Ltd's portfolio, making the stock its 17th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Donaldson Capital Management LLC grew its stake in shares of Toronto-Dominion Bank by 14.3% during the first quarter. Donaldson Capital Management LLC now owns 14,478 shares of the bank's stock worth $868,000 after buying an additional 1,813 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Toronto-Dominion Bank by 1.2% during the first quarter. Assenagon Asset Management S.A. now owns 57,834 shares of the bank's stock worth $3,465,000 after buying an additional 672 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Toronto-Dominion Bank by 42.6% during the first quarter. Farther Finance Advisors LLC now owns 2,819 shares of the bank's stock worth $167,000 after buying an additional 842 shares during the last quarter. Bangor Savings Bank grew its stake in shares of Toronto-Dominion Bank by 28.0% during the first quarter. Bangor Savings Bank now owns 3,026 shares of the bank's stock worth $181,000 after buying an additional 662 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of Toronto-Dominion Bank during the first quarter worth $915,000. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Stock Up 0.0%

Shares of NYSE TD traded up $0.02 during trading on Friday, hitting $70.80. 1,912,550 shares of the company traded hands, compared to its average volume of 2,341,365. The business's fifty day moving average is $64.46 and its 200 day moving average is $59.53. The Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $71.05. The firm has a market capitalization of $121.97 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping the consensus estimate of $1.25 by $0.14. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $2.04 earnings per share. Equities research analysts predict that The Toronto-Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research note 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. Royal Bank of Canada boosted their price objective on shares of 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 assumed coverage on shares of Toronto-Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank has a consensus rating of "Hold" and a consensus price target of $93.00.

About Toronto-Dominion Bank

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.