Maryland State Retirement & Pension System Boosts Holdings in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• The Maryland State Retirement & Pension System increased its stake in Toronto Dominion Bank by 40.5% during Q1, acquiring an additional 63,631 shares to reach a total of 220,667 shares.
• Toronto Dominion Bank recently reported earnings of $1.39 per share, exceeding analyst expectations, while the bank's revenue for the quarter was $10.97 billion, below the expected $13.36 billion.
• Following its recent quarterly report, Toronto Dominion Bank announced a dividend increase to $0.7568 per share, with a resulting annualized dividend yield of 4.1%.

Maryland State Retirement & Pension System raised its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 40.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 220,667 shares of the bank's stock after buying an additional 63,631 shares during the period. Maryland State Retirement & Pension System's holdings in Toronto Dominion Bank were worth $13,219,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted its position in shares of Toronto Dominion Bank by 122.9% during the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock worth $26,000 after purchasing an additional 236 shares during the last quarter. Financial Management Professionals Inc. raised its stake in Toronto Dominion Bank by 322.4% in the first quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock valued at $29,000 after buying an additional 374 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in Toronto Dominion Bank during the 1st quarter worth about $32,000. CoreCap Advisors LLC boosted its position in shares of Toronto Dominion Bank by 57.5% during the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after acquiring an additional 230 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in shares of Toronto Dominion Bank in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. 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 assumed coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They set a "sector perform" rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Hold" and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

Shares of NYSE TD traded up $0.36 during trading hours on Friday, reaching $73.24. The stock had a trading volume of 960,129 shares, compared to its average volume of 1,816,567. The firm has a market cap of $125.62 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.65 and a beta of 0.84. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $75.58. The firm has a 50-day moving average of $72.70 and a 200-day moving average of $64.81.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The company had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $13.36 billion. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. During the same quarter in the previous year, the business earned $2.04 earnings per share. Equities research analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were issued a $0.7568 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This is a positive change 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 4.1%. Toronto Dominion Bank's dividend payout ratio is currently 45.31%.

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.