SEB Asset Management AB Acquires Shares of 1,494,394 Toronto Dominion Bank (The) $TD

Key Points

• SEB Asset Management AB disclosed a new first-quarter position in Toronto Dominion Bank, buying 1,494,394 shares valued at about $139.1 million. The stake represents roughly 0.09% of TD and makes it the fund’s 26th largest holding.
• Toronto Dominion Bank reported Q1 earnings of $1.74 per share, topping analyst expectations of $1.63, while revenue came in at $11.8 billion, also above estimates. Analysts now project full-year earnings of 6.86 per share.
• The bank raised its quarterly dividend to $1.12 per share from $1.08, implying an annualized yield of about 3.6%. Meanwhile, analysts remain generally positive, with a consensus rating of Moderate Buy and an average target price of $156.

SEB Asset Management AB bought a new position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 1,494,394 shares of the bank's stock, valued at approximately $139,123,000. Toronto Dominion Bank accounts for about 0.6% of SEB Asset Management AB's investment portfolio, making the stock its 26th largest position. SEB Asset Management AB owned approximately 0.09% of Toronto Dominion Bank at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bayban purchased a new stake in shares of Toronto Dominion Bank in the fourth quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd raised its position in Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock worth $30,000 after acquiring an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC purchased a new position in Toronto Dominion Bank in the fourth quarter worth $34,000. Brown Lisle Cummings Inc. lifted its holdings in Toronto Dominion Bank by 88.4% in the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank's stock valued at $38,000 after acquiring an additional 191 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in Toronto Dominion Bank by 177.9% in the fourth quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank's stock valued at $40,000 after acquiring an additional 274 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Stock Performance

Shares of TD stock opened at $123.69 on Friday. The stock has a fifty day moving average price of $116.01 and a 200 day moving average price of $103.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $203.95 billion, a PE ratio of 19.30, a P/E/G ratio of 1.38 and a beta of 0.71. Toronto Dominion Bank has a 1 year low of $72.21 and a 1 year high of $124.87.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the company earned $1.97 earnings per share. Toronto Dominion Bank's revenue was down 31.1% compared to the same quarter last year. Sell-side analysts forecast that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's dividend payout ratio is currently 49.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TD. Scotiabank raised shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, May 4th. Wall Street Zen cut shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. Zacks Research downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Finally, Raymond James Financial upgraded shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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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