Federation des caisses Desjardins du Quebec Increases Stock Holdings in Toronto Dominion Bank (The) $TD

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in Toronto Dominion Bank by 48.9%, making it the fund's second largest position, accounting for approximately 4.4% of its investment portfolio.
• Toronto Dominion Bank reported earnings of $1.91 per share for the last quarter, exceeding estimates by $0.45, while revenue grew 7.9% year-over-year.
• The bank announced a dividend increase to $1.05 per share, resulting in a 5.6% yield, and the new dividend will be paid on October 31.

Federation des caisses Desjardins du Quebec lifted its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 48.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,785,565 shares of the bank's stock after acquiring an additional 4,853,498 shares during the quarter. Toronto Dominion Bank makes up approximately 4.4% of Federation des caisses Desjardins du Quebec's holdings, making the stock its 2nd biggest position. Federation des caisses Desjardins du Quebec owned about 0.85% of Toronto Dominion Bank worth $886,174,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC grew its stake 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 valued at $26,000 after acquiring an additional 236 shares during the period. Financial Management Professionals Inc. grew its stake in shares of Toronto Dominion Bank by 322.4% during the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock valued at $29,000 after acquiring an additional 374 shares during the period. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Toronto Dominion Bank during the 1st quarter valued at approximately $32,000. ORG Partners LLC bought a new position in shares of Toronto Dominion Bank during the 1st quarter valued at approximately $34,000. Finally, CoreCap Advisors LLC grew its stake 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 valued at $34,000 after acquiring an additional 230 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TD shares. Desjardins raised shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Scotiabank began coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Royal Bank Of Canada upped their target price on shares of 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. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Hold" and an average target price of $93.00.

Toronto Dominion Bank Price Performance

Shares of TD traded down $0.26 during mid-day trading on Friday, hitting $74.45. 1,545,987 shares of the stock were exchanged, compared to its average volume of 1,841,992. The firm has a 50-day moving average of $74.05 and a two-hundred day moving average of $67.01. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $78.95. The company has a market cap of $127.17 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.45. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. Toronto Dominion Bank's quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Toronto Dominion Bank will post 5.48 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, October 31st. Investors of record on Friday, October 10th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, October 10th. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.76. Toronto Dominion Bank's payout ratio is currently 36.10%.

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.