Toronto Dominion Bank (The) $TD Holdings Boosted by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management increased its stake in Toronto Dominion Bank by 3.0% in Q1, bringing its holdings to 1,201,500 shares worth about $112.2 million.
• TD reported better-than-expected quarterly earnings of $1.74 per share on revenue of $11.80 billion, though revenue was still down 31.1% year over year.
• The bank raised its quarterly dividend to $1.12 per share, implying an annual yield of about 3.7%, while analysts currently rate the stock a Moderate Buy with a $156 average price target.

Hillsdale Investment Management Inc. raised its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,201,500 shares of the bank's stock after buying an additional 34,921 shares during the quarter. Toronto Dominion Bank makes up approximately 3.1% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 3rd biggest position. Hillsdale Investment Management Inc. owned approximately 0.07% of Toronto Dominion Bank worth $112,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Toronto Dominion Bank by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank's stock worth $7,280,911,000 after buying an additional 765,107 shares during the last quarter. Norges Bank acquired a new position in shares of Toronto Dominion Bank in the fourth quarter valued at approximately $2,125,963,000. Bank of Nova Scotia raised its stake in shares of Toronto Dominion Bank by 6.8% during the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank's stock worth $1,836,518,000 after purchasing an additional 1,234,510 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Toronto Dominion Bank by 10.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank's stock worth $1,606,978,000 after purchasing an additional 1,629,062 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Toronto Dominion Bank by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank's stock worth $1,610,733,000 after purchasing an additional 968,122 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Price Performance

TD opened at $120.58 on Tuesday. The company has a 50 day moving average of $114.70 and a two-hundred day moving average of $103.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52-week low of $72.21 and a 52-week high of $122.65. The company has a market cap of $199.26 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.34 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company had revenue of $11.80 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the firm posted $1.97 earnings per share. The firm's quarterly revenue was down 31.1% on a year-over-year basis. On average, analysts expect that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be issued a $1.12 dividend. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 49.14%.

Analyst Ratings Changes

A number of equities analysts have commented on TD shares. Raymond James Financial upgraded shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Scotiabank upgraded shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 4th. Finally, Weiss Ratings cut Toronto Dominion Bank from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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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