Bank of America Corp DE Acquires 358,412 Shares of Toronto Dominion Bank (The) $TD

Bank of America Corp DE boosted its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 7.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,967,545 shares of the bank’s stock after purchasing an additional 358,412 shares during the period. Bank of America Corp DE’s holdings in Toronto Dominion Bank were worth $463,522,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Toronto Dominion Bank during the fourth quarter worth about $2,125,963,000. Auto Owners Insurance Co grew its holdings in shares of Toronto Dominion Bank by 9,320.0% in the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock worth $396,544,000 after purchasing an additional 3,923,347 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Toronto Dominion Bank by 41.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock worth $1,121,660,000 after purchasing an additional 3,496,645 shares during the period. Alberta Investment Management Corp purchased a new position in shares of Toronto Dominion Bank during the fourth quarter valued at approximately $299,850,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Toronto Dominion Bank by 25.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank’s stock worth $1,432,854,000 after purchasing an additional 3,129,457 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Up 0.1%

Shares of NYSE:TD opened at $119.86 on Friday. The business’s 50 day moving average is $118.24 and its 200 day moving average is $105.57. The stock has a market cap of $197.14 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. Toronto Dominion Bank has a 52-week low of $72.21 and a 52-week high of $124.87. 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 (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The business had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the company posted $1.97 EPS. Toronto Dominion Bank’s revenue was down 31.1% on a year-over-year basis. Sell-side analysts predict that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were issued a $1.12 dividend. The ex-dividend date was Friday, July 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Toronto Dominion Bank’s dividend payout ratio is presently 49.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TD shares. Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. 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. Finally, Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toronto Dominion Bank presently has a consensus 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.