Wealthspire Advisors LLC Acquires New Holdings in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Wealthspire Advisors LLC has acquired a new stake in Toronto Dominion Bank (NYSE: TD), purchasing 3,706 shares valued at approximately $222,000.
• Toronto Dominion Bank recently increased its quarterly dividend from $0.73 to $0.7568, representing a dividend yield of 4.1%.
• The bank reported earnings of $1.39 per share for the last quarter, exceeding the consensus estimate of $1.25, despite total revenue being lower than expected at $10.97 billion.

Wealthspire Advisors LLC acquired a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,706 shares of the bank's stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TD. Raymond James Financial Inc. bought a new position in Toronto Dominion Bank in the 4th quarter valued at about $7,865,000. Guggenheim Capital LLC lifted its holdings in shares of Toronto Dominion Bank by 40.9% in the fourth quarter. Guggenheim Capital LLC now owns 6,771 shares of the bank's stock valued at $360,000 after purchasing an additional 1,966 shares in the last quarter. Bridgewater Associates LP boosted its position in shares of Toronto Dominion Bank by 280.2% during the fourth quarter. Bridgewater Associates LP now owns 210,583 shares of the bank's stock valued at $11,206,000 after buying an additional 155,197 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Toronto Dominion Bank by 198.4% during the fourth quarter. NewEdge Advisors LLC now owns 6,334 shares of the bank's stock worth $337,000 after buying an additional 4,211 shares in the last quarter. Finally, Wasatch Advisors LP raised its position in Toronto Dominion Bank by 11.9% in the 4th quarter. Wasatch Advisors LP now owns 43,420 shares of the bank's stock valued at $2,309,000 after buying an additional 4,610 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

TD has been the topic of a number of analyst reports. Royal Bank Of Canada lifted 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. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Scotiabank assumed coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Up 1.7%

NYSE TD traded up $1.27 during trading on Wednesday, hitting $74.48. The company had a trading volume of 2,886,315 shares, compared to its average volume of 2,133,374. The company's fifty day moving average is $72.84 and its 200-day moving average is $65.09. The company has a market cap of $127.74 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.65 and a beta of 0.84. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $75.58.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its 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. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same period in the prior year, the firm earned $2.04 EPS. On average, sell-side analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

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

Toronto Dominion Bank 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.