Toronto Dominion Bank (The) (NYSE:TD) Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Toronto Dominion Bank by 0.7%, owning approximately 74.6 million shares valued at nearly $4.5 billion by the end of the recent quarter.
• Toronto Dominion Bank has upgraded its quarterly dividend to $0.7568 per share, representing an annualized dividend yield of 4.2% and a payout ratio of 45.31%.
• Analysts currently rate Toronto Dominion Bank with a consensus "Hold" rating and have set an average price target of $93.00.

Vanguard Group Inc. grew its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,634,839 shares of the bank's stock after purchasing an additional 516,288 shares during the quarter. Vanguard Group Inc. owned 4.30% of Toronto Dominion Bank worth $4,472,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TD. TD Asset Management Inc raised its holdings in Toronto Dominion Bank by 0.4% in the first quarter. TD Asset Management Inc now owns 37,035,579 shares of the bank's stock valued at $2,218,918,000 after acquiring an additional 162,563 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Toronto Dominion Bank by 4.5% in the first quarter. Mackenzie Financial Corp now owns 29,252,736 shares of the bank's stock valued at $1,752,806,000 after acquiring an additional 1,262,062 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Toronto Dominion Bank by 1.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank's stock valued at $743,037,000 after acquiring an additional 181,781 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Toronto Dominion Bank by 93.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock valued at $732,252,000 after acquiring an additional 5,917,078 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Toronto Dominion Bank by 9.7% in the fourth quarter. Toronto Dominion Bank now owns 10,305,222 shares of the bank's stock valued at $547,992,000 after acquiring an additional 912,401 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Royal Bank Of Canada raised their price objective on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Performance

NYSE:TD traded up $0.36 during trading hours on Friday, reaching $73.24. 960,129 shares of the company's stock were exchanged, compared to its average volume of 1,816,567. The firm has a market capitalization of $125.62 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 1.66 and a beta of 0.84. The company has a 50-day moving average of $72.70 and a 200 day moving average of $64.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $75.58.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $13.36 billion. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. During the same quarter in the prior year, the business earned $2.04 EPS. Research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were paid a dividend of $0.7568 per share. The ex-dividend date was Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a yield of 4.1%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 45.31%.

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.