Nykredit A S Buys Shares of 385,113 Toronto Dominion Bank (The) $TD

Key Points

• Nykredit A/S acquired 385,113 shares of Toronto-Dominion Bank in the second quarter, valued at approximately $46.8 million. Institutional investors now own 52.37% of TD’s outstanding shares.
• Analysts maintain a generally positive outlook, with TD carrying a consensus “Moderate Buy” rating and an average price target of $156, above its reported share price of $121.51.
• TD exceeded quarterly expectations, reporting $1.98 in earnings per share and $12.07 billion in revenue. The bank also declared a quarterly dividend of $1.12, representing a 3.7% annualized yield.

Nykredit A S purchased a new position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 385,113 shares of the bank's stock, valued at approximately $46,808,000.

A number of other institutional investors have also recently made changes to their positions in TD. AQR Capital Management LLC bought a new stake in shares of Toronto Dominion Bank during the 1st quarter worth $568,000. Focus Partners Wealth increased its stake in Toronto Dominion Bank by 27.7% in the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank's stock valued at $1,497,000 after acquiring an additional 5,410 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Toronto Dominion Bank during the second quarter valued at about $259,000. Cresset Asset Management LLC bought a new stake in Toronto Dominion Bank during the second quarter worth about $211,000. Finally, NewEdge Advisors LLC lifted its stake in Toronto Dominion Bank by 25.3% during the second quarter. NewEdge Advisors LLC now owns 8,039 shares of the bank's stock worth $590,000 after purchasing an additional 1,622 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TD shares. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Royal Bank Of Canada upped their target price 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 research report on Tuesday, May 12th. Keefe, Bruyette & Woods assumed coverage on shares of Toronto Dominion Bank in a research note on Friday, August 21st. They set a "market perform" rating on the stock. Finally, Weiss Ratings upgraded shares of Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $156.00.

Toronto Dominion Bank Stock Up 1.7%

Shares of NYSE:TD opened at $121.51 on Thursday. The stock's 50-day moving average price is $120.66 and its 200-day moving average price is $109.81. Toronto Dominion Bank has a 12-month low of $74.11 and a 12-month high of $125.46. The stock has a market capitalization of $199.87 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 1.19 and a beta of 0.73. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.24. The company had revenue of $12.07 billion during the quarter, compared to analyst estimates of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%.Toronto Dominion Bank's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. On average, equities analysts anticipate that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Friday, October 9th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, October 9th. Toronto Dominion Bank's payout ratio is 46.81%.

About Toronto Dominion Bank

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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