Bank of New York Mellon Corp Increases Stake in Toronto Dominion Bank (The) (NYSE:TD)

Bank of New York Mellon Corp grew its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 7.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,606,446 shares of the bank's stock after acquiring an additional 104,864 shares during the quarter. Bank of New York Mellon Corp owned about 0.09% of Toronto Dominion Bank worth $96,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Frank Rimerman Advisors LLC lifted its position in Toronto Dominion Bank by 3.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 5,446 shares of the bank's stock worth $290,000 after buying an additional 171 shares during the last quarter. MFA Wealth Services lifted its position in Toronto Dominion Bank by 4.5% in the first quarter. MFA Wealth Services now owns 4,179 shares of the bank's stock worth $250,000 after buying an additional 179 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in Toronto Dominion Bank by 6.0% in the first quarter. JFS Wealth Advisors LLC now owns 3,421 shares of the bank's stock worth $205,000 after buying an additional 194 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Toronto Dominion Bank by 14.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,619 shares of the bank's stock worth $97,000 after buying an additional 202 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its position in Toronto Dominion Bank by 57.5% in the fourth quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after buying an additional 230 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TD. Scotiabank began coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They issued a "sector perform" rating for the company. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Royal Bank Of Canada lifted their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $93.00.

Toronto Dominion Bank Trading Down 0.4%

Shares of NYSE:TD traded down $0.33 on Friday, hitting $73.56. 1,639,360 shares of the company's stock were exchanged, compared to its average volume of 2,293,554. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $75.12. The stock has a market capitalization of $126.56 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.66 and a beta of 0.83. The business's 50 day simple moving average is $69.34 and its two-hundred day simple moving average is $62.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03.

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 for the quarter, topping the consensus estimate of $1.25 by $0.14. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same period last year, the company earned $2.04 earnings per share. Analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.7568 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $3.03 annualized dividend and a dividend yield of 4.12%. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 45.16%.

Toronto Dominion Bank Company 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.