Northwestern Mutual Wealth Management Co. lifted its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,337 shares of the bank’s stock after purchasing an additional 1,436 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Toronto Dominion Bank (The) were worth $2,989,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Omnia Family Wealth LLC boosted its position in shares of Toronto Dominion Bank (The) by 0.4% in the 2nd quarter. Omnia Family Wealth LLC now owns 5,615 shares of the bank’s stock valued at $283,000 after purchasing an additional 24 shares during the period. Manitou Investment Management Ltd. boosted its position in shares of Toronto Dominion Bank (The) by 0.9% in the 2nd quarter. Manitou Investment Management Ltd. now owns 48,419 shares of the bank’s stock valued at $2,438,000 after purchasing an additional 410 shares during the period. Commonwealth Bank of Australia boosted its position in shares of Toronto Dominion Bank (The) by 5.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 263,687 shares of the bank’s stock valued at $13,267,000 after purchasing an additional 13,688 shares during the period. Rathbone Brothers plc boosted its position in shares of Toronto Dominion Bank (The) by 1.5% in the 2nd quarter. Rathbone Brothers plc now owns 52,459 shares of the bank’s stock valued at $2,640,000 after purchasing an additional 800 shares during the period. Finally, LSV Asset Management boosted its position in shares of Toronto Dominion Bank (The) by 13.8% in the 2nd quarter. LSV Asset Management now owns 85,900 shares of the bank’s stock valued at $4,327,000 after purchasing an additional 10,400 shares during the period. 47.71% of the stock is owned by hedge funds and other institutional investors.

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Toronto Dominion Bank (NYSE:TD) traded up 0.07% during mid-day trading on Monday, reaching $54.51. The company’s stock had a trading volume of 441,993 shares. The firm has a 50-day moving average of $51.68 and a 200-day moving average of $49.82. Toronto Dominion Bank has a 52 week low of $43.09 and a 52 week high of $54.90. The stock has a market capitalization of $100.48 billion, a price-to-earnings ratio of 13.66 and a beta of 0.88.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 31st. The bank reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.05 billion. Toronto Dominion Bank (The) had a return on equity of 14.71% and a net margin of 22.85%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share. On average, equities research analysts expect that Toronto Dominion Bank will post $4.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be issued a dividend of $0.475 per share. The ex-dividend date is Thursday, October 5th. This is a positive change from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. This represents a $1.90 annualized dividend and a dividend yield of 3.49%. Toronto Dominion Bank (The)’s dividend payout ratio is 46.37%.

Toronto Dominion Bank (The) declared that its board has approved a stock buyback plan on Thursday, August 31st that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

A number of brokerages recently issued reports on TD. Zacks Investment Research raised Toronto Dominion Bank (The) from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Wednesday, August 9th. BidaskClub cut Toronto Dominion Bank (The) from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Canaccord Genuity reissued a “buy” rating and issued a $72.00 target price on shares of Toronto Dominion Bank (The) in a research report on Thursday, August 31st. Bank of America Corporation reissued a “buy” rating on shares of Toronto Dominion Bank (The) in a research report on Friday, September 1st. Finally, Scotiabank raised Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a research report on Monday, August 21st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $65.20.

Toronto Dominion Bank (The) Company Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

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Institutional Ownership by Quarter for Toronto Dominion Bank (The) (NYSE:TD)

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