Toronto Dominion Bank (The) $TD Shares Bought by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board increased its stake in Toronto Dominion Bank by 304% in Q2 to 2,446,307 shares (about $180 million), making TD its 7th-largest holding and roughly 3.5% of the fund's portfolio.
• TD raised its quarterly dividend to $1.05 (annualized $4.20) for a yield of about 5.2%, with a payout ratio near 35%.
• Recent results showed an EPS beat ($1.91 vs. $1.46 estimate) but a revenue shortfall, and analysts' consensus remains a "Hold" with a $93 target price.

Ontario Teachers Pension Plan Board grew its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 304.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,446,307 shares of the bank's stock after acquiring an additional 1,840,747 shares during the quarter. Toronto Dominion Bank comprises approximately 3.5% of Ontario Teachers Pension Plan Board's portfolio, making the stock its 7th biggest holding. Ontario Teachers Pension Plan Board owned approximately 0.14% of Toronto Dominion Bank worth $180,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TD. Goldman Sachs Group Inc. lifted its holdings in Toronto Dominion Bank by 93.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock valued at $732,252,000 after purchasing an additional 5,917,078 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its position in shares of Toronto Dominion Bank by 48.9% in the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank's stock valued at $886,174,000 after buying an additional 4,853,498 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Toronto Dominion Bank by 81.6% during the first quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank's stock valued at $630,746,000 after buying an additional 4,729,657 shares during the period. JPMorgan Chase & Co. boosted its position in Toronto Dominion Bank by 38.6% during the first quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock worth $599,064,000 after acquiring an additional 2,780,984 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Toronto Dominion Bank by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 14,147,217 shares of the bank's stock worth $1,053,292,000 after acquiring an additional 2,366,324 shares during the period. Hedge funds and other institutional investors own 52.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a report on Friday, October 3rd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Down 0.1%

NYSE TD opened at $81.27 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $82.93. The business has a 50 day moving average price of $79.78 and a two-hundred day moving average price of $74.18. The stock has a market cap of $137.88 billion, a PE ratio of 9.49, a P/E/G ratio of 1.68 and a beta of 0.79.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.45. The firm had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 EPS. As a group, sell-side analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 10th were issued a $1.05 dividend. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. This represents a $4.20 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Friday, October 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 35.16%.

About Toronto Dominion Bank

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.