Rempart Asset Management Inc. Boosts Stake in The Toronto-Dominion Bank (NYSE:TD)

Rempart Asset Management Inc. boosted its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312,046 shares of the bank’s stock after buying an additional 9,670 shares during the period. Toronto-Dominion Bank accounts for about 4.0% of Rempart Asset Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Rempart Asset Management Inc.’s holdings in Toronto-Dominion Bank were worth $19,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. AXQ Capital LP acquired a new position in shares of Toronto-Dominion Bank during the fourth quarter worth $202,000. Assetmark Inc. increased its position in shares of Toronto-Dominion Bank by 10.6% in the 1st quarter. Assetmark Inc. now owns 14,950 shares of the bank’s stock valued at $896,000 after acquiring an additional 1,432 shares during the period. Piscataqua Savings Bank increased its position in shares of Toronto-Dominion Bank by 17.9% in the 1st quarter. Piscataqua Savings Bank now owns 1,318 shares of the bank’s stock valued at $79,000 after acquiring an additional 200 shares during the period. First National Bank of South Miami increased its position in shares of Toronto-Dominion Bank by 6.7% in the 1st quarter. First National Bank of South Miami now owns 3,318 shares of the bank’s stock valued at $199,000 after acquiring an additional 209 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Toronto-Dominion Bank by 2.2% in the 1st quarter. Mackenzie Financial Corp now owns 29,480,283 shares of the bank’s stock valued at $1,765,633,000 after acquiring an additional 644,627 shares during the period. Hedge funds and other institutional investors own 51.52% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of TD stock traded down $0.01 during mid-day trading on Friday, hitting $62.11. 2,871,506 shares of the stock were exchanged, compared to its average volume of 2,444,869. The Toronto-Dominion Bank has a 52-week low of $55.43 and a 52-week high of $70.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $113.50 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91. The firm has a fifty day moving average of $62.64 and a 200 day moving average of $61.05.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 24th. The bank reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.04). Toronto-Dominion Bank had a net margin of 15.25% and a return on equity of 15.17%. The business had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9 billion. Research analysts anticipate that The Toronto-Dominion Bank will post 6.05 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be given a dividend of $0.725 per share. The ex-dividend date is Thursday, October 5th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.67%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 50.26%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TD shares. Credit Suisse Group cut their target price on Toronto-Dominion Bank from $93.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, August 25th. Barclays cut their target price on Toronto-Dominion Bank from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Friday, August 25th. Royal Bank of Canada cut their target price on Toronto-Dominion Bank from $96.00 to $94.00 and set an “outperform” rating on the stock in a research report on Friday, August 25th. Finally, StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.71.

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 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.