The Toronto-Dominion Bank (NYSE:TD) Shares Purchased by Belpointe Asset Management LLC

Belpointe Asset Management LLC grew its position in shares of The Toronto-Dominion Bank (NYSE:TDFree Report) (TSE:TD) by 12.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,532 shares of the bank’s stock after acquiring an additional 516 shares during the period. Belpointe Asset Management LLC’s holdings in Toronto-Dominion Bank were worth $293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Toronto-Dominion Bank by 1.8% during the third quarter. Vanguard Group Inc. now owns 72,384,265 shares of the bank’s stock worth $4,361,876,000 after acquiring an additional 1,303,730 shares during the last quarter. TD Asset Management Inc increased its stake in Toronto-Dominion Bank by 28.9% during the fourth quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock worth $3,017,384,000 after acquiring an additional 10,415,591 shares during the last quarter. Canoe Financial LP increased its stake in Toronto-Dominion Bank by 2,035.4% during the fourth quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after acquiring an additional 40,803,711 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of Toronto-Dominion Bank by 0.3% in the fourth quarter. Bank of Nova Scotia now owns 33,335,463 shares of the bank’s stock worth $2,154,141,000 after buying an additional 105,772 shares during the period. Finally, Norges Bank purchased a new stake in shares of Toronto-Dominion Bank in the fourth quarter worth about $1,478,898,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Trading Down 0.8 %

Shares of TD opened at $55.59 on Friday. The company has a market capitalization of $97.81 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.54 and a beta of 0.83. The Toronto-Dominion Bank has a one year low of $54.12 and a one year high of $66.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50-day moving average price of $57.18 and a 200 day moving average price of $59.61.

Toronto-Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) last released its earnings results on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. The company had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. Sell-side analysts forecast that The Toronto-Dominion Bank will post 5.86 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 68.64%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TD shares. Jefferies Financial Group started coverage on Toronto-Dominion Bank in a research report on Thursday, February 22nd. They issued a “hold” rating for the company. Barclays started coverage on Toronto-Dominion Bank in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. BMO Capital Markets decreased their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Finally, Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus target price of $88.00.

Get Our Latest Report on Toronto-Dominion Bank

Toronto-Dominion Bank Company Profile

(Free Report)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

Further Reading

Want to see what other hedge funds are holding TD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Toronto-Dominion Bank (NYSE:TDFree Report) (TSE:TD).

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

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