Belpointe Asset Management LLC Increases Stake in The Toronto-Dominion Bank (NYSE:TD)

Belpointe Asset Management LLC lifted its holdings in shares of The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) by 17.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,748 shares of the bank’s stock after acquiring an additional 402 shares during the period. Belpointe Asset Management LLC’s holdings in Toronto-Dominion Bank were worth $178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ameritas Advisory Services LLC grew its stake in shares of Toronto-Dominion Bank by 11.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 3,479 shares of the bank’s stock valued at $213,000 after purchasing an additional 345 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Toronto-Dominion Bank in the third quarter valued at approximately $234,000. Chevy Chase Trust Holdings LLC boosted its stake in shares of Toronto-Dominion Bank by 81.6% in the third quarter. Chevy Chase Trust Holdings LLC now owns 6,900 shares of the bank’s stock valued at $423,000 after buying an additional 3,100 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Toronto-Dominion Bank by 10.1% in the third quarter. Rockefeller Capital Management L.P. now owns 149,014 shares of the bank’s stock valued at $9,138,000 after buying an additional 13,701 shares in the last quarter. Finally, Versor Investments LP boosted its stake in shares of Toronto-Dominion Bank by 7.8% in the fourth quarter. Versor Investments LP now owns 11,100 shares of the bank’s stock valued at $718,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 49.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TD shares. StockNews.com upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, March 3rd. Barclays downgraded Toronto-Dominion Bank from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, May 9th. CIBC upgraded Toronto-Dominion Bank from a “neutral” rating to a “sector outperform” rating in a research report on Monday, April 17th. Finally, Desjardins boosted their target price on Toronto-Dominion Bank from C$105.00 to C$106.00 in a research report on Tuesday, February 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Moderate Buy” and an average price target of $100.57.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $60.45 on Wednesday. The Toronto-Dominion Bank has a fifty-two week low of $55.43 and a fifty-two week high of $77.15. The stock has a market cap of $110.66 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.17 and a beta of 0.88. The business has a fifty day moving average of $59.91 and a 200-day moving average of $64.12. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last released its quarterly earnings results on Thursday, March 2nd. The bank reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. The company had revenue of $9.01 billion during the quarter, compared to analysts’ expectations of $8.97 billion. Toronto-Dominion Bank had a return on equity of 16.02% and a net margin of 18.23%. As a group, analysts predict that The Toronto-Dominion Bank will post 6.48 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Investors of record on Thursday, April 6th were paid a $0.721 dividend. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 4.77%. The ex-dividend date was Wednesday, April 5th. Toronto-Dominion Bank’s dividend payout ratio is presently 44.87%.

About Toronto-Dominion Bank

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The Toronto-Dominion Bank engages in the provision of financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.