Northern Trust Corp Increases Holdings in Toronto Dominion Bank (The) $TD

Key Points

• Northern Trust Corp increased its stake in Toronto Dominion Bank by 16.5%, owning 1,331,006 shares valued at approximately $79.78 million as of the end of the most recent reporting period.
• Toronto Dominion Bank reported a quarterly earnings per share (EPS) of $1.39, exceeding analysts' expectations of $1.25, although its revenue fell short at $10.97 billion compared to projections of $13.36 billion.
• Research analysts have varying ratings on the stock, with a consensus rating of "Hold" and an average target price of $93.00.

Northern Trust Corp boosted its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 16.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,331,006 shares of the bank's stock after purchasing an additional 188,437 shares during the period. Northern Trust Corp owned about 0.08% of Toronto Dominion Bank worth $79,780,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Algert Global LLC purchased a new position in Toronto Dominion Bank during the 1st quarter valued at about $256,000. Northwest & Ethical Investments L.P. increased its holdings in Toronto Dominion Bank by 38.4% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 802,497 shares of the bank's stock valued at $48,116,000 after purchasing an additional 222,745 shares during the period. American Century Companies Inc. increased its holdings in Toronto Dominion Bank by 3.1% during the 1st quarter. American Century Companies Inc. now owns 344,422 shares of the bank's stock valued at $20,638,000 after purchasing an additional 10,285 shares during the period. Tacita Capital Inc increased its holdings in Toronto Dominion Bank by 1.0% during the 1st quarter. Tacita Capital Inc now owns 41,358 shares of the bank's stock valued at $2,479,000 after purchasing an additional 423 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Toronto Dominion Bank during the 1st quarter valued at about $143,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $74.3670 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The business's 50 day moving average price is $73.43 and its 200-day moving average price is $66.07. Toronto Dominion Bank has a 52 week low of $51.25 and a 52 week high of $75.58. The stock has a market cap of $127.55 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.63 and a beta of 0.84.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping 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 firm had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $13.36 billion. During the same period in the previous year, the firm posted $2.04 EPS. Equities research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Scotiabank initiated coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They set a "sector perform" rating on the stock. Zacks Research cut Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada lifted their price objective on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research report on Friday, May 23rd. Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.

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