Quadrature Capital Ltd Has $196.03 Million Position in Toronto Dominion Bank (The) $TD

Key Points

• Quadrature Capital Ltd sharply increased its stake in Toronto Dominion Bank during Q3—up 5,566.3% to 2,451,600 shares (adding 2,408,334 shares), a holding worth about $196.03 million and representing ~2.3% of Quadrature's portfolio (its 8th largest position).
• Toronto Dominion Bank beat Q4 estimates with $1.76 EPS (vs. $1.63 expected) and $11.01 billion revenue (up 18.1% YoY), and declared a quarterly dividend of $1.08 (annualized $4.32, yield ~4.6%, payout ratio ~34.8%).
• Analysts have a consensus rating of “Moderate Buy” with an average target of $93.00; the stock trades near $94 with a market cap of about $157.2 billion and a P/E of 10.39.

Quadrature Capital Ltd raised its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 5,566.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,451,600 shares of the bank's stock after purchasing an additional 2,408,334 shares during the period. Toronto Dominion Bank accounts for approximately 2.3% of Quadrature Capital Ltd's portfolio, making the stock its 8th largest position. Quadrature Capital Ltd owned 0.14% of Toronto Dominion Bank worth $196,028,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC acquired a new position in Toronto Dominion Bank in the third quarter valued at $27,000. Mather Group LLC. bought a new stake in Toronto Dominion Bank during the third quarter valued at $30,000. Sachetta LLC acquired a new stake in Toronto Dominion Bank during the 3rd quarter worth about $33,000. Elevation Point Wealth Partners LLC acquired a new stake in Toronto Dominion Bank during the 2nd quarter worth about $32,000. Finally, Tobam raised its position in shares of Toronto Dominion Bank by 44.5% in the 2nd quarter. Tobam now owns 490 shares of the bank's stock worth $36,000 after acquiring an additional 151 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on TD shares. Weiss Ratings reissued a "buy (b)" rating on shares of Toronto Dominion Bank in a research note on Wednesday, January 21st. National Bank Financial raised shares of Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research report on Thursday, December 18th. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Monday, March 2nd. Raymond James Financial upgraded shares of Toronto Dominion Bank to a "hold" rating in a research report on Monday, November 24th. Finally, Canadian Imperial Bank of Commerce lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Toronto Dominion Bank has a consensus rating of "Moderate Buy" and an average target price of $93.00.

Toronto Dominion Bank Trading Down 1.9%

Shares of Toronto Dominion Bank stock opened at $94.07 on Friday. The stock has a fifty day simple moving average of $95.50 and a 200 day simple moving average of $86.96. Toronto Dominion Bank has a 12-month low of $54.87 and a 12-month high of $99.84. The company has a market capitalization of $157.21 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 1.09 and a beta of 0.66. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The business had revenue of $11.01 billion during the quarter, compared to the consensus estimate of $10.43 billion. During the same period in the prior year, the firm posted $2.02 EPS. The firm's quarterly revenue was up 18.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be given a $1.08 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 annualized dividend and a dividend yield of 4.6%. Toronto Dominion Bank's payout ratio is 34.81%.

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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