Wealth Enhancement Advisory Services LLC Acquires 7,467 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Toronto Dominion Bank by 43.8%, acquiring an additional 7,467 shares during the second quarter, bringing their total holdings to 24,521 shares valued at approximately $1.84 million.
• Toronto Dominion Bank declared a quarterly dividend of $1.05 per share, representing an increase from the previous dividend of $0.76, with a dividend yield of 5.3%.
• The bank's latest earnings report showed an earnings per share of $1.91, exceeding analysts' expectations, accompanied by a 7.9% year-over-year rise in revenue despite a year-on-year decline in earnings from $2.05 per share.

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 43.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,521 shares of the bank's stock after buying an additional 7,467 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Toronto Dominion Bank were worth $1,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TD. Vanguard Group Inc. boosted its holdings in Toronto Dominion Bank by 0.7% in the first quarter. Vanguard Group Inc. now owns 74,634,839 shares of the bank's stock valued at $4,472,194,000 after acquiring an additional 516,288 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Toronto Dominion Bank by 0.4% in the 1st quarter. TD Asset Management Inc now owns 37,035,579 shares of the bank's stock valued at $2,218,918,000 after purchasing an additional 162,563 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Toronto Dominion Bank by 4.5% during the first quarter. Mackenzie Financial Corp now owns 29,252,736 shares of the bank's stock worth $1,752,806,000 after buying an additional 1,262,062 shares during the period. Federation des caisses Desjardins du Quebec increased its position in shares of Toronto Dominion Bank by 48.9% during the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank's stock worth $886,174,000 after buying an additional 4,853,498 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Toronto Dominion Bank by 17.7% in the first quarter. The Manufacturers Life Insurance Company now owns 13,700,503 shares of the bank's stock valued at $825,440,000 after buying an additional 2,057,784 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $79.20 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day moving average of $75.14 and a 200-day moving average of $69.05. The company has a market cap of $134.70 billion, a PE ratio of 9.25, a P/E/G ratio of 1.70 and a beta of 0.81. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $79.49.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The business had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $13.73 billion. During the same period in the prior year, the business earned $2.05 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research 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 will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a dividend of $1.05 per share. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.76. The ex-dividend date is Friday, October 10th. 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 presently 36.10%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TD shares. Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Wall Street Zen cut Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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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