Trust Co. of Vermont Buys Shares of 51,986 Toronto Dominion Bank (The) $TD

Key Points

• Trust Co. of Vermont acquired 51,986 Toronto-Dominion Bank shares worth approximately $6.3 million during the second quarter.
• Institutional investors and hedge funds own 52.37% of TD; major holders including Vanguard, Norges Bank and Bank of Nova Scotia recently increased or initiated positions.
• TD reported quarterly EPS of $1.74, exceeding estimates, and raised its quarterly dividend to $1.12, equivalent to a 3.6% annual yield. Analysts maintain a consensus “Moderate Buy” rating with a $156 price target.

Trust Co. of Vermont bought a new position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 51,986 shares of the bank's stock, valued at approximately $6,313,000.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Toronto Dominion Bank by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank's stock worth $7,280,911,000 after purchasing an additional 765,107 shares in the last quarter. Norges Bank acquired a new stake in shares of Toronto Dominion Bank in the fourth quarter worth about $2,125,963,000. Bank of Nova Scotia lifted its position in shares of Toronto Dominion Bank by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank's stock worth $1,836,518,000 after buying an additional 1,234,510 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Toronto Dominion Bank by 10.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank's stock worth $1,606,978,000 after acquiring an additional 1,629,062 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Toronto Dominion Bank by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank's stock worth $1,610,733,000 after acquiring an additional 968,122 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto Dominion Bank Stock Performance

Shares of NYSE:TD opened at $124.36 on Tuesday. The company has a market cap of $204.55 billion, a P/E ratio of 19.40, a P/E/G ratio of 1.38 and a beta of 0.72. The stock's 50-day moving average is $120.25 and its 200-day moving average is $107.80. Toronto Dominion Bank has a 52-week low of $72.73 and a 52-week high of $125.47. 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 (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the company posted $1.97 earnings per share. The firm's revenue for the quarter was down 31.1% on a year-over-year basis. Equities research analysts predict that Toronto Dominion Bank will post 6.9 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were given a $1.12 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $4.48 annualized dividend and a yield of 3.6%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 49.14%.

Analyst Ratings Changes

A number of research analysts have recently commented on TD shares. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings raised Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada increased their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Wall Street Zen lowered shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Finally, Scotiabank upgraded shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.00.

Toronto Dominion Bank Company 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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