TD Asset Management Inc Has $3.55 Billion Stock Position in Toronto Dominion Bank (The) $TD

Key Points

• TD Asset Management held a very large position in Toronto Dominion Bank, owning 37.6 million shares worth about $3.55 billion at quarter-end, even after trimming its stake slightly in the fourth quarter.
• Toronto Dominion Bank recently delivered better-than-expected earnings, reporting $1.74 EPS versus estimates of $1.63, and also posted revenue above analyst expectations.
• The bank raised its quarterly dividend to $1.12 per share from $1.08, implying a 4.0% annualized yield, while analysts currently rate the stock a Moderate Buy with an average price target of $156.00.

TD Asset Management Inc trimmed its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 0.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,596,747 shares of the bank's stock after selling 15,260 shares during the period. Toronto Dominion Bank accounts for approximately 2.9% of TD Asset Management Inc's holdings, making the stock its 5th biggest position. TD Asset Management Inc owned approximately 2.24% of Toronto Dominion Bank worth $3,548,069,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Toronto Dominion Bank by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank's stock worth $7,280,911,000 after acquiring an additional 765,107 shares during the period. Norges Bank acquired a new stake in shares of Toronto Dominion Bank in the 4th quarter worth approximately $2,125,963,000. Canerector Inc. lifted its stake in shares of Toronto Dominion Bank by 11,028.0% in the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank's stock worth $1,779,367,000 after acquiring an additional 22,056,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of Toronto Dominion Bank by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank's stock worth $1,610,733,000 after acquiring an additional 968,122 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Toronto Dominion Bank by 25.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank's stock worth $1,432,854,000 after acquiring an additional 3,129,457 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TD shares. Wall Street Zen lowered shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Royal Bank Of Canada upped their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a research note on Monday. Raymond James Financial raised shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of Toronto Dominion Bank from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $156.00.

Toronto Dominion Bank Stock Down 0.7%

TD stock opened at $112.49 on Thursday. Toronto Dominion Bank has a 12 month low of $69.56 and a 12 month high of $114.26. The firm has a market cap of $185.89 billion, a PE ratio of 17.55, a P/E/G ratio of 1.25 and a beta of 0.72. The firm has a 50 day simple moving average of $104.38 and a 200 day simple moving average of $96.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the business earned $1.97 earnings per share. The business's quarterly revenue was down 31.1% on a year-over-year basis. Equities research analysts forecast that Toronto Dominion Bank will post 6.92 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, July 31st. Investors of record on Friday, July 10th will be paid a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 48.52%.

About Toronto Dominion Bank

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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