Stevens Capital Management LP Purchases Shares of 8,114 Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Stevens Capital Management LP has acquired a new stake in Toronto Dominion Bank, purchasing 8,114 shares valued at approximately $486,000.
• The bank recently lifted its quarterly dividend from $0.73 to $0.7568 per share, resulting in an annualized dividend yield of 4.04%.
• Toronto Dominion Bank reported $1.39 EPS for the last quarter, exceeding analyst expectations of $1.25, with a revenue of $10.97 billion.

Stevens Capital Management LP purchased a new stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 8,114 shares of the bank's stock, valued at approximately $486,000.

Several other hedge funds have also recently bought and sold shares of the company. FIL Ltd grew its holdings in shares of Toronto Dominion Bank by 17.3% in the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock worth $2,075,819,000 after purchasing an additional 5,756,584 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Toronto Dominion Bank by 5.6% in the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock valued at $1,488,233,000 after purchasing an additional 1,491,472 shares during the last quarter. Norges Bank bought a new position in shares of Toronto Dominion Bank in the 4th quarter valued at about $992,204,000. Beutel Goodman & Co Ltd. raised its position in shares of Toronto Dominion Bank by 3.8% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank's stock valued at $894,169,000 after acquiring an additional 622,736 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Toronto Dominion Bank by 1.5% in 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 acquiring an additional 181,781 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Stock Performance

TD traded up $0.46 during trading hours on Wednesday, hitting $73.97. The stock had a trading volume of 385,865 shares, compared to its average volume of 2,146,588. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The stock has a market cap of $127.26 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.68 and a beta of 0.83. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $75.58. The company's fifty day simple moving average is $71.82 and its 200 day simple moving average is $63.92.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.14. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. During the same quarter in the previous year, the company posted $2.04 EPS. Equities analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a dividend of $0.7568 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $3.03 annualized dividend and a dividend yield of 4.09%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 45.31%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TD. Scotiabank assumed coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Royal Bank Of Canada boosted their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $93.00.

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.