Successful Portfolios LLC Buys New Position in Toronto Dominion Bank (The) $TD

Key Points

• Successful Portfolios LLC acquired a new position in Toronto Dominion Bank, purchasing 3,234 shares valued at approximately $238,000 in the second quarter.
• Toronto Dominion Bank recently declared an increased quarterly dividend of $1.05, translating to an annualized dividend of $4.20 and a yield of 5.2%.
• The bank's latest earnings report showed an EPS of $1.91, exceeding analyst estimates, although revenue came in lower than expected at $10.12 billion.

Successful Portfolios LLC bought 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 filing with the Securities and Exchange Commission. The institutional investor bought 3,234 shares of the bank's stock, valued at approximately $238,000.

Other large investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position in shares of Toronto Dominion Bank by 144.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 11,532 shares of the bank's stock valued at $691,000 after purchasing an additional 6,818 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Toronto Dominion Bank by 41.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank's stock valued at $264,134,000 after purchasing an additional 1,302,281 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Toronto Dominion Bank by 38.6% during the 1st quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock valued at $599,064,000 after purchasing an additional 2,780,984 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Toronto Dominion Bank by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,606,446 shares of the bank's stock valued at $96,290,000 after purchasing an additional 104,864 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position 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 own 52.37% of the company's stock.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $81.13 on Friday. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $82.08. The company has a 50-day moving average of $75.66 and a two-hundred day moving average of $69.63. The stock has a market cap of $137.99 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.63 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 posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 16.40% and a return on equity of 13.59%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, equities research analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

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

Analyst Ratings Changes

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