Sagespring Wealth Partners LLC Invests $398,000 in Toronto Dominion Bank (The) $TD

Key Points

• Sagespring Wealth Partners LLC has invested $398,000 in Toronto Dominion Bank by purchasing 5,423 shares, reflecting a growing interest among institutional investors in the bank's stock.
• Toronto Dominion Bank has declared an increase in its quarterly dividend to $1.05 per share, up from $0.76, representing an annualized dividend yield of 5.3%.
• The bank recently reported quarterly earnings of $1.91 per share, surpassing analysts' expectations and highlighting a 7.9% year-over-year revenue growth despite a lower revenue figure than anticipated.

Sagespring Wealth Partners LLC purchased a new stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,423 shares of the bank's stock, valued at approximately $398,000.

A number of other hedge funds have also recently bought and sold shares of the business. Larson Financial Group LLC raised its position in shares of Toronto Dominion Bank by 122.9% in the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Toronto Dominion Bank in the second quarter worth $34,000. Moisand Fitzgerald Tamayo LLC acquired a new stake in Toronto Dominion Bank in the first quarter valued at $32,000. ORG Partners LLC acquired a new stake in Toronto Dominion Bank in the first quarter valued at $34,000. Finally, Brentview Investment Management LLC bought a new position in Toronto Dominion Bank during the 1st quarter valued at $40,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto Dominion Bank Trading Up 0.7%

Toronto Dominion Bank stock opened at $79.28 on Friday. The firm has a market cap of $134.84 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $82.08. The firm's 50 day moving average price is $76.96 and its two-hundred day moving average price is $70.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.

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

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be issued a dividend of $1.05 per share. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, October 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 35.75%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TD shares. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Desjardins raised shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Royal Bank Of Canada raised Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $93.00.

About Toronto Dominion Bank

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.

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