Shell Asset Management Co. Boosts Stock Position in Toronto Dominion Bank (The) $TD

Key Points

• Shell Asset Management Co. increased its stake in Toronto Dominion Bank by 74%, acquiring an additional 32,021 shares, bringing its total holdings to 75,293 shares valued at $5,527,000.
• The bank recently announced a quarterly dividend increase to $1.05 per share, which will be paid on October 31, 2023, resulting in an annualized yield of 5.2%.
• Toronto Dominion Bank reported earnings of $1.91 EPS for the latest quarter, exceeding estimates, with quarterly revenue reaching $10.12 billion, representing a 7.9% increase year-over-year.

Shell Asset Management Co. boosted its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 74.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,293 shares of the bank's stock after acquiring an additional 32,021 shares during the quarter. Shell Asset Management Co.'s holdings in Toronto Dominion Bank were worth $5,527,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in Toronto Dominion Bank by 122.9% during the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock valued at $26,000 after acquiring an additional 236 shares during the period. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Toronto Dominion Bank in the 1st quarter worth $32,000. ORG Partners LLC purchased a new stake in shares of Toronto Dominion Bank in the 1st quarter worth $34,000. Brentview Investment Management LLC purchased a new stake in shares of Toronto Dominion Bank in the 1st quarter worth $40,000. Finally, Colonial Trust Advisors purchased a new stake in shares of Toronto Dominion Bank in the 1st quarter worth $44,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Trading Up 0.0%

Shares of NYSE:TD opened at $81.24 on Tuesday. The business's 50-day moving average is $75.81 and its 200 day moving average is $69.92. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $82.08. The firm has a market capitalization of $138.17 billion, a P/E ratio of 9.49, a P/E/G ratio of 1.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same period in the prior year, the company posted $2.05 EPS. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 10th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $4.20 annualized dividend and a yield of 5.2%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. Toronto Dominion Bank's dividend payout ratio is currently 36.10%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Toronto Dominion Bank in a report on Saturday, September 27th. Royal Bank Of Canada upgraded Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a report on Friday. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Wall Street Zen lowered Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Finally, Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $93.00.

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.

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