Toronto Dominion Bank (The) $TD Stake Lifted by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in Toronto Dominion Bank by 38.4% in the first quarter, making it the 8th largest position in their investment portfolio, valued at approximately $48.1 million.
• Toronto Dominion Bank recently reported $1.39 earnings per share, exceeding estimates, despite revenue falling below expectations at $10.97 billion for the quarter.
• The bank has increased its quarterly dividend to $0.7568, yielding 4.1%, which represents a boost from the previous dividend of $0.73.

Northwest & Ethical Investments L.P. lifted its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 38.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 802,497 shares of the bank's stock after purchasing an additional 222,745 shares during the period. Toronto Dominion Bank comprises about 1.3% of Northwest & Ethical Investments L.P.'s portfolio, making the stock its 8th biggest holding. Northwest & Ethical Investments L.P.'s holdings in Toronto Dominion Bank were worth $48,116,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in Toronto Dominion Bank by 93.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock worth $732,252,000 after acquiring an additional 5,917,078 shares during the period. JPMorgan Chase & Co. raised its position in Toronto Dominion Bank by 38.6% during the first quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock worth $599,064,000 after acquiring an additional 2,780,984 shares during the period. Mackenzie Financial Corp raised its position in shares of Toronto Dominion Bank by 5.6% in the fourth quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock valued at $1,488,233,000 after buying an additional 1,491,472 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Toronto Dominion Bank by 137.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,258,881 shares of the bank's stock valued at $120,143,000 after buying an additional 1,306,946 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Toronto Dominion Bank in the 1st quarter valued at about $77,336,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TD shares. Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research report on Friday, May 23rd. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Scotiabank started coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $93.00.

Toronto Dominion Bank Trading Up 0.5%

NYSE:TD traded up $0.3650 on Wednesday, reaching $73.6750. The stock had a trading volume of 1,621,568 shares, compared to its average volume of 2,106,549. The company has a market cap of $126.37 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.62 and a beta of 0.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. The firm's fifty day moving average is $73.23 and its two-hundred day moving average is $65.67. Toronto Dominion Bank has a 12-month low of $51.25 and a 12-month high of $75.58.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $2.04 EPS. Equities analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.7568 per share. This represents a $3.03 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Thursday, July 10th. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's payout ratio is currently 45.16%.

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.