Retirement Planning Co of New England Inc. Buys New Shares in Toronto Dominion Bank (The) $TD

Key Points

• Retirement Planning Co of New England Inc. has acquired a new position in Toronto Dominion Bank, purchasing 7,848 shares valued at approximately $470,000.
• The bank recently announced a quarterly dividend increase from $0.76 to $1.05, resulting in an annualized dividend yield of 5.6%.
• Toronto Dominion Bank's earnings report showed a surge in earnings per share to $1.91, surpassing analysts' expectations of $1.46, although revenue fell short of estimates.

Retirement Planning Co of New England Inc. acquired a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,848 shares of the bank's stock, valued at approximately $470,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Toronto Dominion Bank by 0.7% during the first quarter. Vanguard Group Inc. now owns 74,634,839 shares of the bank's stock worth $4,472,194,000 after buying an additional 516,288 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Toronto Dominion Bank by 0.4% during the 1st quarter. TD Asset Management Inc now owns 37,035,579 shares of the bank's stock valued at $2,218,918,000 after buying an additional 162,563 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Toronto Dominion Bank by 4.5% during the 1st quarter. Mackenzie Financial Corp now owns 29,252,736 shares of the bank's stock valued at $1,752,806,000 after buying an additional 1,262,062 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Toronto Dominion Bank by 17.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 13,700,503 shares of the bank's stock valued at $825,440,000 after buying an additional 2,057,784 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Toronto Dominion Bank by 1.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank's stock valued at $743,037,000 after purchasing an additional 181,781 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a report on Friday, May 23rd. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Scotiabank began coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Up 0.4%

NYSE:TD traded up $0.30 during trading hours on Wednesday, hitting $74.83. The stock had a trading volume of 1,448,392 shares, compared to its average volume of 1,866,789. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $78.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.02. The company has a market cap of $128.34 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 1.63 and a beta of 0.81. The business's 50 day moving average is $73.97 and its 200-day moving average is $66.81.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its earnings results on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, beating the consensus estimate of $1.46 by $0.45. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The firm had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $13.73 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The business's quarterly revenue 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 fiscal year.

Toronto Dominion Bank Increases Dividend

The business 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 dividend of $1.05 per share. 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 5.6%. The ex-dividend date of this dividend is Friday, October 10th. Toronto Dominion Bank's payout ratio is currently 36.10%.

Toronto Dominion Bank Company 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.