Toronto Dominion Bank (The) $TD is Guardian Partners Inc.'s 2nd Largest Position

Key Points

• Guardian Partners Inc. reduced its position in Toronto Dominion Bank by 5.1%, holding 671,207 shares, which constitutes 4.1% of its investment portfolio, making it the bank's 2nd largest position.
• The bank announced a new quarterly dividend of $1.05, up from the previous $0.76, representing an annualized payout of $4.20 with a yield of 5.6%.
• Toronto Dominion Bank's stock recently received a boost from various analysts, with a new average target price of $93.00 and a mix of ratings, including three "Buy" and four "Hold" ratings.

Guardian Partners Inc. lowered its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 5.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 671,207 shares of the bank's stock after selling 36,318 shares during the period. Toronto Dominion Bank comprises approximately 4.1% of Guardian Partners Inc.'s investment portfolio, making the stock its 2nd biggest position. Guardian Partners Inc.'s holdings in Toronto Dominion Bank were worth $39,981,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in Toronto Dominion Bank by 122.9% in 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 period. Financial Management Professionals Inc. increased its position in shares of 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 shares of Toronto Dominion Bank in the first quarter valued at approximately $32,000. CoreCap Advisors LLC raised 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 worth $34,000 after buying an additional 230 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of Toronto Dominion Bank during the 1st quarter valued at approximately $34,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TD has been the subject of several recent analyst reports. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Royal Bank Of Canada boosted 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 note on Friday, May 23rd. Zacks Research downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Finally, Scotiabank initiated coverage on Toronto Dominion Bank in a research note on Thursday, May 15th. They set a "sector perform" rating for the company. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Toronto Dominion Bank presently has an average rating of "Hold" and an average price target of $93.00.

Toronto Dominion Bank Stock Performance

NYSE:TD opened at $74.45 on Monday. The company has a market cap of $127.17 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.61 and a beta of 0.81. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $78.95. The company's 50-day moving average price is $74.05 and its 200-day moving average price is $67.11. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.45. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The company had revenue of $10.12 billion during the quarter, compared to analysts' expectations of $13.73 billion. During the same quarter in the prior year, the company earned $2.05 EPS. Toronto Dominion Bank's revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal 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 $1.05 dividend. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.76. This represents a $4.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 10th. Toronto Dominion Bank's payout ratio is 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.

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