Baird Financial Group Inc. raised its position in The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,513 shares of the bank’s stock after acquiring an additional 232 shares during the quarter. Baird Financial Group Inc.’s holdings in Toronto-Dominion Bank were worth $493,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Toronto-Dominion Bank during the 2nd quarter worth about $31,000. Pinebridge Investments L.P. lifted its stake in shares of Toronto-Dominion Bank by 52.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 541 shares of the bank’s stock worth $46,000 after buying an additional 187 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Toronto-Dominion Bank by 122.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 715 shares of the bank’s stock worth $47,000 after buying an additional 394 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Toronto-Dominion Bank by 27.9% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 918 shares of the bank’s stock worth $60,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 49.10% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on TD shares. Canaccord Genuity Group cut their target price on shares of Toronto-Dominion Bank from C$96.00 to C$94.50 in a research note on Monday, August 29th. National Bank Financial dropped their price objective on shares of Toronto-Dominion Bank from C$106.00 to C$103.00 in a research note on Friday. Royal Bank of Canada upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, August 26th. Keefe, Bruyette & Woods upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Friday, September 2nd. Finally, StockNews.com began coverage on shares of Toronto-Dominion Bank in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.80.
Toronto-Dominion Bank Price Performance
Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last released its earnings results on Thursday, August 25th. The bank reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. Toronto-Dominion Bank had a net margin of 22.93% and a return on equity of 16.09%. The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the firm earned $1.60 EPS. On average, analysts anticipate that The Toronto-Dominion Bank will post 6.2 earnings per share for the current fiscal year.
Toronto-Dominion Bank Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, October 7th were issued a dividend of $0.696 per share. The ex-dividend date of this dividend was Thursday, October 6th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.69. This represents a $2.78 annualized dividend and a dividend yield of 4.17%. Toronto-Dominion Bank’s payout ratio is 41.32%.
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 Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking segments. The company offers personal deposits, such as checking, 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.
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