TD Asset Management Inc Acquires 162,563 Shares of Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• TD Asset Management Inc increased its holdings in Toronto Dominion Bank by 0.4%, now owning over 37 million shares valued at approximately $2.22 billion.
• Toronto Dominion Bank announced a quarterly dividend increase to $0.7568 per share, with a current dividend yield of 4.04%.
• The bank recently reported quarterly earnings, achieving an EPS of $1.39, exceeding analysts' expectations of $1.25.

TD Asset Management Inc raised its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,035,579 shares of the bank's stock after buying an additional 162,563 shares during the period. Toronto Dominion Bank comprises about 2.0% of TD Asset Management Inc's holdings, making the stock its 6th largest position. TD Asset Management Inc owned 2.13% of Toronto Dominion Bank worth $2,218,918,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TD. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Toronto Dominion Bank by 3.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 243,333 shares of the bank's stock worth $14,588,000 after purchasing an additional 7,710 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Toronto Dominion Bank during the first quarter worth about $486,000. Davis Rea LTD. grew its holdings in shares of Toronto Dominion Bank by 424.1% during the first quarter. Davis Rea LTD. now owns 99,247 shares of the bank's stock worth $5,950,000 after purchasing an additional 80,312 shares during the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of Toronto Dominion Bank by 10.3% during the first quarter. Crestwood Advisors Group LLC now owns 4,712 shares of the bank's stock worth $282,000 after purchasing an additional 441 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Toronto Dominion Bank by 12.4% during the first quarter. Lindbrook Capital LLC now owns 3,052 shares of the bank's stock worth $183,000 after purchasing an additional 336 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Stock Performance

NYSE TD opened at $74.88 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $75.58. The business's 50-day moving average price is $71.46 and its 200 day moving average price is $63.58. The firm has a market cap of $128.83 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.69 and a beta of 0.83.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. During the same quarter last year, the firm earned $2.04 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 disclosed 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. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Thursday, July 10th. Toronto Dominion Bank's payout ratio is currently 45.16%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Scotiabank assumed coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They set a "sector perform" rating on the stock. Royal Bank Of Canada raised their price target on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a report on Friday, May 23rd. Finally, Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Toronto Dominion Bank presently has an average rating of "Hold" and an average price target 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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