Wealth Effects LLC Acquires New Position in Toronto Dominion Bank (The) $TD

Key Points

• Wealth Effects LLC has acquired a new position in Toronto Dominion Bank, purchasing 3,258 shares valued at approximately $239,000.
• The bank has declared an increased quarterly dividend of $1.05 per share, up from $0.76, with a yield of 5.3%.
• Toronto Dominion Bank reported quarterly earnings of $1.91 per share, surpassing expectations, although revenue fell short of estimates at $10.12 billion.

Wealth Effects LLC bought a new position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 3,258 shares of the bank's stock, valued at approximately $239,000.

Several other institutional investors have also added to or reduced their stakes in TD. Vident Advisory LLC boosted its stake in shares of Toronto Dominion Bank by 5.8% in the 4th quarter. Vident Advisory LLC now owns 4,535 shares of the bank's stock valued at $241,000 after purchasing an additional 249 shares during the last quarter. Probity Advisors Inc. boosted its position in Toronto Dominion Bank by 14.1% during the fourth quarter. Probity Advisors Inc. now owns 21,947 shares of the bank's stock valued at $1,168,000 after acquiring an additional 2,711 shares during the last quarter. Tableaux LLC acquired a new stake in Toronto Dominion Bank during the 4th quarter worth about $1,960,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Toronto Dominion Bank by 133.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,126 shares of the bank's stock valued at $859,000 after purchasing an additional 9,231 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Toronto Dominion Bank by 14.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,619 shares of the bank's stock worth $97,000 after purchasing an additional 202 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Trading Down 0.7%

Shares of TD opened at $78.72 on Wednesday. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $79.49. The business has a 50-day moving average of $74.84 and a 200 day moving average of $68.54. The firm has a market cap of $133.88 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, beating the consensus estimate of $1.46 by $0.45. The business had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The company's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. As a group, research analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, October 10th. This is a positive change 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 5.3%. Toronto Dominion Bank's dividend payout ratio (DPR) is 36.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TD shares. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Toronto Dominion Bank currently has an average rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Company Profile

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.

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