Toronto Dominion Bank (The) (NYSE:TD) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,606,446 shares of the bank's stock after acquiring an additional 104,864 shares during the period. Bank of New York Mellon Corp owned approximately 0.09% of Toronto Dominion Bank worth $96,290,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its holdings in Toronto Dominion Bank by 144.6% during the first quarter. Oppenheimer & Co. Inc. now owns 11,532 shares of the bank's stock worth $691,000 after purchasing an additional 6,818 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Toronto Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after buying an additional 1,415,934 shares during the period. JPMorgan Chase & Co. grew its holdings in Toronto Dominion Bank by 3.4% during the fourth quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank's stock worth $384,042,000 after acquiring an additional 236,037 shares during the period. Te Ahumairangi Investment Management Ltd grew its holdings in Toronto Dominion Bank by 21.2% during the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank's stock worth $3,383,000 after acquiring an additional 11,100 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in Toronto Dominion Bank by 608.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 456,391 shares of the bank's stock worth $24,271,000 after acquiring an additional 391,930 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TD shares. Scotiabank initiated coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. 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. Finally, Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Toronto Dominion Bank presently has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Price Performance

Shares of NYSE TD traded down $0.21 on Thursday, hitting $73.89. The company's stock had a trading volume of 2,142,490 shares, compared to its average volume of 2,300,496. The stock has a 50 day moving average of $68.93 and a 200-day moving average of $61.85. The company has a market capitalization of $127.13 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.83. Toronto Dominion Bank has a 12-month low of $51.25 and a 12-month high of $75.12. 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 quarterly 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 company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter last year, the business posted $2.04 earnings per share. As a group, research analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current 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 issued a dividend of $0.7568 per share. The ex-dividend date of this dividend is Thursday, July 10th. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.10%. Toronto Dominion Bank's payout ratio is 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.