Sumitomo Mitsui DS Asset Management Company Ltd Purchases 9,475 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Sumitomo Mitsui DS Asset Management increased its Toronto Dominion Bank stake by 47.7% in the fourth quarter, buying 9,475 additional shares and bringing its total to 29,344 shares valued at about $2.76 million.
• Institutional ownership remains significant, with several other investors also adding to or initiating positions in TD; institutions now hold 52.37% of the company’s stock.
• TD’s recent results and outlook were solid: it beat quarterly earnings and revenue estimates, and analysts currently rate the stock as a Moderate Buy with an average price target of $93.00.

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 47.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,344 shares of the bank's stock after purchasing an additional 9,475 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Toronto Dominion Bank were worth $2,764,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TD. AQR Capital Management LLC bought a new stake in Toronto Dominion Bank in the first quarter valued at approximately $568,000. Focus Partners Wealth increased its stake in Toronto Dominion Bank by 27.7% in the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank's stock valued at $1,497,000 after purchasing an additional 5,410 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Toronto Dominion Bank in the second quarter valued at approximately $259,000. Cresset Asset Management LLC bought a new stake in Toronto Dominion Bank in the second quarter valued at approximately $211,000. Finally, NewEdge Advisors LLC increased its stake in Toronto Dominion Bank by 25.3% in the second quarter. NewEdge Advisors LLC now owns 8,039 shares of the bank's stock valued at $590,000 after purchasing an additional 1,622 shares in the last quarter. Institutional investors own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

TD has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Scotiabank raised shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 4th. Zacks Research downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Weiss Ratings raised shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Toronto Dominion Bank presently has an average rating of "Moderate Buy" and an average price target of $93.00.

Toronto Dominion Bank Stock Down 0.3%

Toronto Dominion Bank stock opened at $107.40 on Friday. The company has a market cap of $177.88 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 1.22 and a beta of 0.71. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $98.90 and a 200 day simple moving average of $92.93. Toronto Dominion Bank has a 1-year low of $62.79 and a 1-year high of $109.22.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.13. The firm had revenue of $11.01 billion during the quarter, compared to analysts' expectations of $10.43 billion. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The company's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.02 earnings per share. Research analysts anticipate that Toronto Dominion Bank will post 6.9 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th were paid a $1.08 dividend. The ex-dividend date was Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a yield of 4.0%. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 34.36%.

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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