Toronto Dominion Bank (The) $TD Shares Bought by Bank of America Corp DE

Bank of America Corp DE lifted its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 7.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,967,545 shares of the bank's stock after buying an additional 358,412 shares during the quarter. Bank of America Corp DE owned about 0.30% of Toronto Dominion Bank worth $463,522,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TD. Norges Bank purchased a new position in shares of Toronto Dominion Bank in the 4th quarter valued at approximately $2,125,963,000. Auto Owners Insurance Co increased its holdings in shares of Toronto Dominion Bank by 9,320.0% in the 4th quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank's stock valued at $396,544,000 after purchasing an additional 3,923,347 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Toronto Dominion Bank by 41.6% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank's stock valued at $1,121,660,000 after acquiring an additional 3,496,645 shares during the period. Alberta Investment Management Corp acquired a new position in Toronto Dominion Bank during the fourth quarter worth $299,850,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Toronto Dominion Bank by 25.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank's stock worth $1,432,854,000 after buying an additional 3,129,457 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto Dominion Bank Stock Performance

TD stock opened at $119.86 on Friday. The firm has a 50 day simple moving average of $118.24 and a 200 day simple moving average of $105.57. 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 52 week low of $72.21 and a 52 week high of $124.87. The stock has a market cap of $197.14 billion, a P/E ratio of 18.70, 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 announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. Toronto Dominion Bank's quarterly revenue was down 31.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.97 EPS. Research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were issued a dividend of $1.12 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $4.48 annualized dividend and a yield of 3.7%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's payout ratio is 49.14%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TD. Scotiabank raised shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, May 4th. Weiss Ratings lowered Toronto Dominion Bank from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Zacks Research downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Royal Bank Of Canada lifted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. Finally, Raymond James Financial upgraded Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $156.00.

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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