PensionDanmark Pensionsforsikringsaktieselskab Increases Stock Holdings in Toronto Dominion Bank (The) $TD

Key Points

• PensionDanmark increased its Toronto Dominion Bank stake by 9.9% in the second quarter, adding 21,800 shares to reach 240,904 shares valued at approximately $29.28 million. Institutional investors collectively own 52.37% of TD.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $156, although some firms recently downgraded the stock.
• TD beat quarterly expectations with EPS of $1.74 versus $1.63 expected and revenue of $11.8 billion, while raising its quarterly dividend to $1.12 per share, equivalent to a 3.7% yield.

PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 9.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 240,904 shares of the bank's stock after purchasing an additional 21,800 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Toronto Dominion Bank were worth $29,280,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in TD. Hillsdale Investment Management Inc. raised its holdings in shares of Toronto Dominion Bank by 3.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank's stock valued at $112,185,000 after purchasing an additional 34,921 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Toronto Dominion Bank by 433.7% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank's stock worth $1,528,000 after purchasing an additional 13,179 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Toronto Dominion Bank in the fourth quarter valued at $299,850,000. State of Wyoming increased 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 valued at $2,119,000 after buying an additional 20,730 shares during the last quarter. Finally, JCIC Asset Management Inc. raised its stake in Toronto Dominion Bank by 891.5% in the fourth quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank's stock valued at $8,035,000 after buying an additional 76,650 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TD shares. Zacks Research cut Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Raymond James Financial upgraded Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday. Finally, Wall Street Zen cut shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Moderate Buy" and an average target price of $156.00.

Toronto Dominion Bank Stock Up 0.1%

TD opened at $121.22 on Friday. Toronto Dominion Bank has a one year low of $72.67 and a one year high of $124.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $199.39 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.35 and a beta of 0.72. The business's 50-day simple moving average is $118.90 and its 200-day simple moving average is $106.40.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion during the quarter, compared to analysts' expectations of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The business's revenue was down 31.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.97 EPS. Analysts anticipate that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date was Friday, July 10th. Toronto Dominion Bank's payout ratio is 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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