Park Avenue Securities LLC Has $2.83 Million Position in Toronto Dominion Bank (The) $TD

Key Points

• Park Avenue Securities LLC significantly increased its stake in Toronto Dominion Bank by 152.6% during the second quarter, holding a total of 38,576 shares valued at approximately $2.83 million.
• Toronto Dominion Bank's recent earnings report revealed an EPS of $1.91, beating expectations, although its revenue fell short at $10.12 billion compared to the anticipated $13.73 billion.
• The bank also announced an increase in its quarterly dividend to $1.05, resulting in an annualized dividend yield of 5.3%, with the payout date set for October 31st.

Park Avenue Securities LLC raised its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 152.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,576 shares of the bank's stock after purchasing an additional 23,307 shares during the period. Park Avenue Securities LLC's holdings in Toronto Dominion Bank were worth $2,833,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TD. Goldman Sachs Group Inc. boosted its position in shares of Toronto Dominion Bank by 93.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock valued at $732,252,000 after acquiring an additional 5,917,078 shares during the period. Federation des caisses Desjardins du Quebec boosted its position in shares of Toronto Dominion Bank by 48.9% in the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank's stock valued at $886,174,000 after acquiring an additional 4,853,498 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Toronto Dominion Bank by 81.6% in the first quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank's stock valued at $630,746,000 after acquiring an additional 4,729,657 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Toronto Dominion Bank by 38.6% in the first quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock valued at $599,064,000 after acquiring an additional 2,780,984 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Toronto Dominion Bank by 17.7% in the first quarter. The Manufacturers Life Insurance Company now owns 13,700,503 shares of the bank's stock valued at $825,440,000 after acquiring an additional 2,057,784 shares during the period. Institutional investors own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

TD has been the subject of a number of recent research reports. Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Desjardins raised shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Toronto Dominion Bank has an average rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Down 0.7%

TD opened at $78.72 on Wednesday. The stock has a market capitalization of $133.88 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 1.70 and a beta of 0.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $79.49. The company has a 50-day simple moving average of $74.84 and a 200 day simple moving average of $68.54.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.45. The firm had revenue of $10.12 billion during the quarter, compared to analysts' expectations of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. Analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.3%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, October 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 36.10%.

Toronto Dominion Bank Profile

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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