Ninepoint Partners LP Buys Shares of 246,256 Toronto Dominion Bank (The) $TD

Key Points

• Ninepoint Partners purchased 246,256 shares of Toronto-Dominion Bank in the second quarter, valued at approximately $29.9 million and representing 2.3% of its portfolio. Institutional investors and hedge funds collectively own 52.37% of TD.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $156. Ratings range from Strong Buy to Hold, including a recent upgrade from Raymond James.
• TD reported quarterly EPS of $1.74, exceeding estimates of $1.63, while revenue reached $11.8 billion. The bank also increased its quarterly dividend to $1.12 per share, implying a 3.8% annual yield.

Ninepoint Partners LP purchased a new position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 246,256 shares of the bank's stock, valued at approximately $29,903,000. Toronto Dominion Bank comprises about 2.3% of Ninepoint Partners LP's portfolio, making the stock its 8th largest position.

Other large investors have also modified their holdings of the company. Hillsdale Investment Management Inc. grew its stake in shares of Toronto Dominion Bank by 3.0% in the first quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank's stock worth $112,185,000 after purchasing an additional 34,921 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of Toronto Dominion Bank during the fourth quarter valued at about $299,850,000. State of Wyoming lifted its holdings in Toronto Dominion Bank by 1,018.7% in the first quarter. State of Wyoming now owns 22,765 shares of the bank's stock worth $2,119,000 after purchasing an additional 20,730 shares during the period. Sivia Capital Partners LLC acquired a new stake in Toronto Dominion Bank in the second quarter worth about $259,000. Finally, Norges Bank bought a new position in Toronto Dominion Bank in the 4th quarter valued at about $2,125,963,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. 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. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Royal Bank Of Canada boosted their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. Finally, Weiss Ratings raised Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $156.00.

Toronto Dominion Bank Price Performance

Shares of Toronto Dominion Bank stock opened at $116.91 on Friday. Toronto Dominion Bank has a 52 week low of $72.73 and a 52 week high of $125.46. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market cap of $192.30 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.31 and a beta of 0.72. The company's 50-day moving average price is $120.49 and its two-hundred day moving average price is $108.33.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business's revenue for the quarter was down 31.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.97 EPS. As a group, sell-side analysts anticipate that Toronto Dominion Bank will post 6.9 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were paid a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, July 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 49.14%.

Toronto Dominion Bank 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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