MQS Management LLC Takes Position in Toronto Dominion Bank (The) $TD

MQS Management LLC bought a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the 1st quarter, Holdings Channel.com reports. The firm bought 5,242 shares of the bank’s stock, valued at approximately $489,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bayban purchased a new stake in shares of Toronto Dominion Bank in the fourth quarter worth about $28,000. Harvest Fund Management Co. Ltd grew its stake in shares of Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after buying an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank during the 4th quarter valued at about $34,000. Brown Lisle Cummings Inc. raised its holdings in shares of Toronto Dominion Bank by 88.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock valued at $38,000 after buying an additional 191 shares during the period. Finally, Cornerstone Planning Group LLC lifted its position in Toronto Dominion Bank by 177.9% during the 4th quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock worth $40,000 after acquiring an additional 274 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Price Performance

TD opened at $121.48 on Wednesday. The company has a market capitalization of $200.73 billion, a P/E ratio of 18.95, a PEG ratio of 1.34 and a beta of 0.72. The company has a 50-day moving average of $112.05 and a 200-day moving average of $101.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a 1-year low of $72.21 and a 1-year high of $121.52.

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

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio (DPR) is 48.52%.

Analyst Ratings Changes

A number of research firms have weighed in on TD. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Royal Bank Of Canada upped their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Finally, Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Company 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.