Purpose Unlimited Inc. Invests $47.49 Million in Toronto Dominion Bank (The) $TD

Key Points

• Purpose Unlimited Inc. bought a new stake in Toronto Dominion Bank, acquiring 503,859 shares worth about $47.49 million, making TD its 12th-largest holding.
• TD reported Q4 EPS of $1.74, beating analyst expectations of $1.63, and generated $11.80 billion in revenue, also above estimates.
• The bank raised its quarterly dividend to $1.12 per share from $1.08, implying an annualized yield of about 3.8%.

Purpose Unlimited Inc. acquired a new stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 503,859 shares of the bank's stock, valued at approximately $47,488,000. Toronto Dominion Bank makes up about 2.2% of Purpose Unlimited Inc.'s holdings, making the stock its 12th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of Toronto Dominion Bank by 21.8% in the third quarter. Citigroup Inc. now owns 935,526 shares of the bank's stock valued at $74,821,000 after purchasing an additional 167,736 shares during the period. TD Asset Management Inc grew its holdings in shares of Toronto Dominion Bank by 0.7% in the third quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank's stock valued at $3,008,096,000 after purchasing an additional 246,999 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in Toronto Dominion Bank by 433.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank's stock worth $1,528,000 after buying an additional 13,179 shares during the period. Alberta Investment Management Corp purchased a new stake in Toronto Dominion Bank during the 4th quarter worth approximately $299,850,000. Finally, JCIC Asset Management Inc. lifted its holdings in Toronto Dominion Bank by 891.5% during the 4th quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank's stock worth $8,035,000 after buying an additional 76,650 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Stock Up 0.1%

Shares of NYSE:TD opened at $119.38 on Friday. The firm's 50 day moving average price is $109.64 and its 200 day moving average price is $99.55. The stock has a market cap of $197.27 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.32 and a beta of 0.72. Toronto Dominion Bank has a fifty-two week low of $70.50 and a fifty-two week high of $120.27. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $11.04 billion. During the same quarter in the previous year, the firm earned $1.97 earnings per share. The firm's quarterly revenue was down 31.1% on a year-over-year basis. As a group, equities research analysts predict that Toronto Dominion Bank will post 6.92 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be given a dividend of $1.12 per share. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. Toronto Dominion Bank's dividend payout ratio is presently 48.52%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TD shares. Weiss Ratings cut shares of Toronto Dominion Bank from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, June 11th. Scotiabank raised Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 4th. Royal Bank Of Canada increased their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. Wall Street Zen lowered Toronto Dominion Bank from a "hold" rating to a "sell" rating in a report on Saturday, May 23rd. Finally, Raymond James Financial raised Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.00.

Toronto Dominion Bank Company 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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