Toronto Dominion Bank (The) $TD Shares Acquired by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. increased its stake in Toronto Dominion Bank by 3.3% in the first quarter, bringing its holdings to 711,868 shares valued at about $66.3 million.
• Analyst sentiment is mixed but generally positive, with a consensus rating of Moderate Buy and an average price target of $156 despite some recent downgrades.
• Toronto Dominion Bank beat quarterly earnings estimates, reporting $1.74 EPS versus $1.63 expected, and it also raised its quarterly dividend to $1.12 per share, implying a 3.6% yield.

Bessemer Group Inc. lifted its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 3.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 711,868 shares of the bank's stock after buying an additional 22,878 shares during the period. Bessemer Group Inc.'s holdings in Toronto Dominion Bank were worth $66,255,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Bayban acquired a new position in Toronto Dominion Bank during the fourth quarter worth approximately $28,000. Harvest Fund Management Co. Ltd raised its stake in Toronto Dominion Bank by 112.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock worth $30,000 after purchasing an additional 168 shares during the period. CBIZ Investment Advisory Services LLC acquired a new position in shares of Toronto Dominion Bank in the 4th quarter valued at $34,000. Brown Lisle Cummings Inc. boosted its holdings in shares of Toronto Dominion Bank by 88.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank's stock valued at $38,000 after purchasing an additional 191 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Toronto Dominion Bank by 660.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank's stock valued at $38,000 after buying an additional 456 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TD shares. Wall Street Zen downgraded Toronto Dominion Bank from a "hold" rating to a "sell" rating in a report on Saturday, May 23rd. Raymond James Financial upgraded Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Tuesday, May 12th. Zacks Research downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Royal Bank Of Canada raised their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Finally, Weiss Ratings cut shares of Toronto Dominion Bank from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $156.00.

Toronto Dominion Bank Price Performance

TD stock opened at $123.69 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a 1 year low of $72.21 and a 1 year high of $124.87. The firm has a market cap of $203.95 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.38 and a beta of 0.71. The stock has a 50-day simple moving average of $116.01 and a 200-day simple moving average of $103.81.

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

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, July 10th. Toronto Dominion Bank's payout ratio is 49.14%.

Toronto Dominion Bank 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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