Y Intercept Hong Kong Ltd Takes $8.03 Million Position in Toronto Dominion Bank (The) $TD

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Toronto Dominion Bank, buying 86,031 shares worth about $8.03 million in the first quarter.
• TD reported better-than-expected quarterly results, with EPS of $1.74 versus the $1.63 estimate and revenue of $11.80 billion topping forecasts.
• The bank raised its quarterly dividend to $1.12 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $156.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 86,031 shares of the bank's stock, valued at approximately $8,028,000.

Several other large investors have also added to or reduced their stakes in TD. Main Line Retirement Advisors LLC boosted its position in shares of Toronto Dominion Bank by 0.8% in the first quarter. Main Line Retirement Advisors LLC now owns 12,254 shares of the bank's stock worth $1,143,000 after purchasing an additional 102 shares during the period. Rosenberg Matthew Hamilton lifted its stake in shares of Toronto Dominion Bank by 8.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,489 shares of the bank's stock valued at $140,000 after buying an additional 118 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in Toronto Dominion Bank by 12.4% in the 4th quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank's stock worth $104,000 after buying an additional 122 shares during the period. CIBC Private Wealth Group LLC increased its stake in Toronto Dominion Bank by 4.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank's stock worth $233,000 after buying an additional 134 shares in the last quarter. Finally, Fiduciary Financial Group LLC increased its stake in Toronto Dominion Bank by 4.9% in the 4th quarter. Fiduciary Financial Group LLC now owns 3,000 shares of the bank's stock worth $283,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Stock Up 0.0%

TD opened at $119.31 on Friday. The company has a market capitalization of $197.15 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71. The firm has a 50-day simple moving average of $112.94 and a two-hundred day simple moving average of $101.81. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52 week low of $72.21 and a 52 week high of $122.65.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to analysts' expectations of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The business's revenue was down 31.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.97 earnings per share. Analysts forecast that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's dividend payout ratio is presently 48.52%.

Analysts Set New Price Targets

Several brokerages have recently commented on TD. Royal Bank Of Canada boosted their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Scotiabank raised Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 4th. Zacks Research cut Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Raymond James Financial raised shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Tuesday, May 12th. Finally, Wall Street Zen cut shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $156.00.

Toronto Dominion Bank 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.

Want to see what other hedge funds are holding TD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.