Nykredit A S Invests $40.68 Million in Toronto Dominion Bank (The) $TD

Key Points

• Nykredit A/S acquired 334,713 shares of Toronto-Dominion Bank in the second quarter, valued at approximately $40.68 million. Institutional investors collectively own 52.37% of TD.
• TD reported quarterly EPS of $1.98, beating estimates of $1.74, while revenue reached $12.07 billion, up 6.9% year over year.
• The bank declared a quarterly dividend of $1.12 per share, representing a 3.7% yield, while analysts maintained a “Moderate Buy” consensus with an average price target of $156.

Nykredit A S bought a new position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 334,713 shares of the bank's stock, valued at approximately $40,682,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Financial Management LLC increased its position in shares of Toronto Dominion Bank by 77.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 218 shares of the bank's stock worth $26,000 after purchasing an additional 95 shares during the last quarter. Groupe la Francaise boosted its position in Toronto Dominion Bank by 172.5% during the 2nd quarter. Groupe la Francaise now owns 714 shares of the bank's stock valued at $87,000 after purchasing an additional 452 shares during the period. HB Wealth Management LLC grew its stake in Toronto Dominion Bank by 9.6% during the 2nd quarter. HB Wealth Management LLC now owns 6,042 shares of the bank's stock worth $734,000 after buying an additional 528 shares during the last quarter. NI Acquisitions Company LLC acquired a new position in Toronto Dominion Bank during the 2nd quarter valued at about $120,000. Finally, NBH Bank bought a new stake in Toronto Dominion Bank during the 2nd quarter valued at $73,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Stock Performance

Shares of Toronto Dominion Bank stock opened at $122.33 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $120.88 and a 200 day simple moving average of $111.80. Toronto Dominion Bank has a fifty-two week low of $77.26 and a fifty-two week high of $125.46. The firm has a market cap of $201.20 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.21 and a beta of 0.73.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.24. The business had revenue of $12.07 billion during the quarter, compared to analysts' expectations of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%.The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 earnings per share. Sell-side analysts predict that Toronto Dominion Bank will post 7.04 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be paid a dividend of $1.12 per share. The ex-dividend date is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Toronto Dominion Bank's payout ratio is currently 46.81%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods initiated coverage on Toronto Dominion Bank in a report on Friday, August 21st. They set a "market perform" rating 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, August 22nd. Weiss Ratings raised Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.00.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank, operating under the TD name, is a Canadian financial services company headquartered in Toronto, Ontario. The bank traces its history to the formation of The Toronto-Dominion Bank in 1955 through the merger of The Bank of Toronto, founded in 1855, and The Dominion Bank, founded in 1869.

TD provides a broad range of banking and financial services to individuals, businesses and institutions. Its offerings include personal and commercial deposit accounts, mortgages, consumer and business lending, credit cards, payment services, investment products, insurance and wealth management.

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