Private Advisor Group LLC Has $2.94 Million Stake in Toronto Dominion Bank (The) $TD

Key Points

• Private Advisor Group LLC boosted its stake in Toronto Dominion Bank by 40.6% in the first quarter, holding 31,537 shares worth about $2.94 million.
• Toronto Dominion Bank reported better-than-expected quarterly earnings of $1.74 per share on revenue of $11.80 billion, though revenue was still down 31.1% year over year.
• The bank raised its quarterly dividend to $1.12 per share from $1.08, and analysts currently rate the stock a Moderate Buy with a consensus target price of $156.00.

Private Advisor Group LLC increased its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 40.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,537 shares of the bank's stock after purchasing an additional 9,110 shares during the period. Private Advisor Group LLC's holdings in Toronto Dominion Bank were worth $2,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Toronto Dominion Bank by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank's stock worth $7,280,911,000 after buying an additional 765,107 shares during the last quarter. Norges Bank bought a new stake in shares of Toronto Dominion Bank during the fourth quarter worth about $2,125,963,000. Bank of Nova Scotia increased its position in shares of Toronto Dominion Bank by 6.8% during the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank's stock worth $1,836,518,000 after acquiring an additional 1,234,510 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Toronto Dominion Bank by 10.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank's stock worth $1,606,978,000 after acquiring an additional 1,629,062 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Toronto Dominion Bank by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank's stock valued at $1,610,733,000 after acquiring an additional 968,122 shares in the last quarter. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Trading Up 1.0%

NYSE TD opened at $119.70 on Friday. The stock has a market capitalization of $197.80 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.32 and a beta of 0.71. Toronto Dominion Bank has a one year low of $72.21 and a one year high of $122.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The business's fifty day moving average is $114.12 and its 200-day moving average is $102.66.

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

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a $1.12 dividend. The ex-dividend date is Friday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. Toronto Dominion Bank's dividend payout ratio is presently 48.52%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Raymond James Financial raised Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Tuesday, May 12th. Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Wall Street Zen downgraded Toronto Dominion Bank from a "hold" rating to a "sell" rating in a report on Saturday, May 23rd. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Weiss Ratings cut Toronto Dominion Bank from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $156.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.