Cerity Partners LLC acquired a new position in shares of The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,457 shares of the bank’s stock, valued at approximately $423,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Toronto-Dominion Bank by 12.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,243,311 shares of the bank’s stock valued at $1,129,773,000 after acquiring an additional 1,599,227 shares during the last quarter. RMR Wealth Builders bought a new stake in shares of Toronto-Dominion Bank in the 1st quarter valued at about $262,000. Greenfield Savings Bank bought a new stake in shares of Toronto-Dominion Bank in the 2nd quarter valued at about $554,000. Lake Street Financial LLC bought a new stake in shares of Toronto-Dominion Bank in the 2nd quarter valued at about $355,000. Finally, Yousif Capital Management LLC grew its position in shares of Toronto-Dominion Bank by 4.9% in the 2nd quarter. Yousif Capital Management LLC now owns 29,700 shares of the bank’s stock valued at $1,948,000 after purchasing an additional 1,380 shares during the period. 49.10% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
TD has been the subject of several research analyst reports. Canaccord Genuity Group decreased their price objective on Toronto-Dominion Bank from C$96.00 to C$94.50 in a research report on Monday, August 29th. Scotiabank decreased their price objective on Toronto-Dominion Bank from C$102.00 to C$101.00 in a research report on Thursday, August 18th. National Bank Financial decreased their price objective on Toronto-Dominion Bank from C$106.00 to C$103.00 in a research report on Friday. Royal Bank of Canada upgraded Toronto-Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, August 26th. Finally, StockNews.com initiated coverage on Toronto-Dominion Bank in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $100.80.
Toronto-Dominion Bank Trading Up 0.3 %
Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last released its quarterly earnings data on Thursday, August 25th. The bank reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $10.63 billion. Toronto-Dominion Bank had a return on equity of 16.09% and a net margin of 22.93%. During the same quarter in the prior year, the firm posted $1.60 EPS. As a group, analysts expect that The Toronto-Dominion Bank will post 6.2 EPS for the current fiscal year.
Toronto-Dominion Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, October 7th were issued a $0.696 dividend. This represents a $2.78 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, October 6th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.69. Toronto-Dominion Bank’s dividend payout ratio is presently 41.32%.
About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.
- Get a free copy of the StockNews.com research report on Toronto-Dominion Bank (TD)
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