Resources Management Corp CT ADV Has $3.49 Million Stock Holdings in Toronto Dominion Bank (The) $TD

Key Points

• Resources Management Corp CT ADV reduced its holdings in Toronto Dominion Bank by 18%, owning 58,191 shares valued at approximately $3.49 million after selling 12,793 shares in the first quarter.
• Toronto Dominion Bank announced a dividend increase to $1.05 per share from the previous $0.76, representing an annualized dividend of $4.20 and a yield of 5.6%, payable on October 31st.
• The bank's latest earnings report showed a notable beat on EPS with $1.91, surpassing estimates by $0.45, despite reporting a revenue of $10.12 billion, lower than the analysts' expectations.

Resources Management Corp CT ADV lessened its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 18.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,191 shares of the bank's stock after selling 12,793 shares during the quarter. Resources Management Corp CT ADV's holdings in Toronto Dominion Bank were worth $3,488,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Mercer Global Advisors Inc. ADV increased its stake in Toronto Dominion Bank by 4.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,272 shares of the bank's stock valued at $653,000 after buying an additional 502 shares during the period. Baird Financial Group Inc. grew its holdings in shares of Toronto Dominion Bank by 35.5% during the 4th quarter. Baird Financial Group Inc. now owns 6,976 shares of the bank's stock valued at $371,000 after acquiring an additional 1,826 shares in the last quarter. Centiva Capital LP acquired a new position in shares of Toronto Dominion Bank in the fourth quarter worth $299,000. CoreCap Advisors LLC raised its holdings in shares of Toronto Dominion Bank by 57.5% during the fourth quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after acquiring an additional 230 shares in the last quarter. Finally, Ethic Inc. raised its holdings in shares of Toronto Dominion Bank by 64.8% during the fourth quarter. Ethic Inc. now owns 8,438 shares of the bank's stock worth $449,000 after acquiring an additional 3,319 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TD has been the topic of a number of recent research reports. Zacks Research downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Scotiabank started coverage on shares of Toronto Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Finally, Royal Bank Of Canada boosted their target price on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock traded up $0.56 on Wednesday, reaching $75.90. 1,321,930 shares of the stock were exchanged, compared to its average volume of 2,114,290. The company has a current ratio of 1.02, a quick 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 $78.95. The firm has a fifty day moving average price of $74.10 and a two-hundred day moving average price of $67.27. The stock has a market cap of $129.64 billion, a PE ratio of 8.87, a PEG ratio of 1.62 and a beta of 0.81.

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

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be given a $1.05 dividend. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.76. This represents a $4.20 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, October 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 35.40%.

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.