TD Waterhouse Canada Inc. Has $2.48 Billion Stock Position in Toronto Dominion Bank (The) $TD

Key Points

• TD Waterhouse Canada reduced its Toronto-Dominion Bank stake by 1.9% in the second quarter but still held 20.26 million shares valued at approximately $2.48 billion, making TD its largest holding.
• Toronto-Dominion Bank reported quarterly EPS of $1.98, exceeding estimates of $1.74, while revenue reached $12.07 billion and increased 6.9% year over year.
• The bank declared a quarterly dividend of $1.12 per share, equivalent to an annualized yield of 3.6%. Analysts maintain a “Moderate Buy” consensus with a $156 target price.

TD Waterhouse Canada Inc. reduced its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,259,577 shares of the bank's stock after selling 391,382 shares during the quarter. Toronto Dominion Bank comprises approximately 6.6% of TD Waterhouse Canada Inc.'s holdings, making the stock its largest position. TD Waterhouse Canada Inc. owned about 1.23% of Toronto Dominion Bank worth $2,480,002,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC bought a new position in shares of Toronto Dominion Bank during the 1st quarter valued at about $568,000. Focus Partners Wealth lifted its position in shares of Toronto Dominion Bank by 27.7% in the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank's stock worth $1,497,000 after buying an additional 5,410 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Toronto Dominion Bank in the second quarter worth about $259,000. Cresset Asset Management LLC bought a new position in Toronto Dominion Bank during the second quarter valued at approximately $211,000. Finally, NewEdge Advisors LLC boosted its stake in Toronto Dominion Bank by 25.3% during the second quarter. NewEdge Advisors LLC now owns 8,039 shares of the bank's stock valued at $590,000 after buying an additional 1,622 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Trading Up 1.4%

TD opened at $123.23 on Friday. The firm has a market cap of $202.69 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.21 and a beta of 0.73. Toronto Dominion Bank has a 12 month low of $74.11 and a 12 month high of $125.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $120.72 and a 200 day moving average of $110.01.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.24. The business had revenue of $12.07 billion for the quarter, compared to the consensus estimate of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%.The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.20 earnings per share. As a group, research analysts forecast that Toronto Dominion Bank will post 7.04 EPS for the current year.

Toronto Dominion Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Friday, October 9th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, October 9th. Toronto Dominion Bank's dividend payout ratio is presently 46.81%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TD. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Keefe, Bruyette & Woods assumed coverage on Toronto Dominion Bank in a research report on Friday, August 21st. They set a "market perform" rating for the company. Royal Bank Of Canada raised their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Weiss Ratings upgraded shares of Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Toronto Dominion Bank currently has an average rating of "Moderate Buy" and a consensus target price of $156.00.

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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