Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Zurcher Kantonalbank increased its stake in Toronto Dominion Bank by 0.7%, owning 717,506 shares valued at approximately $42.99 million as of its latest SEC filing.
• Toronto Dominion Bank reported a quarterly earnings per share (EPS) of $1.39, exceeding the consensus estimate by $0.14, with revenue of $10.97 billion for the quarter.
• The bank announced a dividend increase to $0.7568 per share, translating to an annualized yield of 4.04%, set to be paid on July 31st.

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 0.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 717,506 shares of the bank's stock after acquiring an additional 5,127 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Toronto Dominion Bank were worth $42,988,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TD. Larson Financial Group LLC boosted its stake in Toronto Dominion Bank by 122.9% during the first quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock worth $26,000 after acquiring an additional 236 shares in the last quarter. Financial Management Professionals Inc. grew its stake in shares of Toronto Dominion Bank by 322.4% in the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock valued at $29,000 after buying an additional 374 shares during the period. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Toronto Dominion Bank in the 1st quarter valued at about $32,000. ORG Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the 1st quarter valued at about $34,000. Finally, CoreCap Advisors LLC grew its stake in shares of Toronto Dominion Bank by 57.5% in the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock valued at $34,000 after buying an additional 230 shares during the period. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Price Performance

Shares of Toronto Dominion Bank stock traded up $0.08 during trading on Wednesday, hitting $73.59. The stock had a trading volume of 1,012,712 shares, compared to its average volume of 2,150,559. The firm has a market cap of $126.60 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.68 and a beta of 0.83. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The business's 50-day moving average is $71.82 and its 200 day moving average is $63.92. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $75.58.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The company had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $13.36 billion. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. During the same period last year, the firm posted $2.04 EPS. As a group, sell-side analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a dividend of $0.7568 per share. This represents a $3.03 annualized dividend and a yield of 4.11%. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date is Thursday, July 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 45.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TD shares. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Scotiabank started coverage on Toronto Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. Finally, Royal Bank Of Canada boosted their price objective on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Toronto Dominion Bank presently 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.