Mirae Asset Global Investments Co. Ltd. Buys 5,614 Shares of The Toronto-Dominion Bank (NYSE:TD)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 47,389 shares of the bank’s stock after purchasing an additional 5,614 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Toronto-Dominion Bank were worth $3,062,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairfield Bush & CO. bought a new position in shares of Toronto-Dominion Bank in the 1st quarter worth approximately $26,000. Fortis Capital Advisors LLC bought a new position in shares of Toronto-Dominion Bank in the 4th quarter worth approximately $26,000. PCA Investment Advisory Services Inc. bought a new position in shares of Toronto-Dominion Bank in the 2nd quarter worth approximately $26,000. Bray Capital Advisors lifted its stake in shares of Toronto-Dominion Bank by 206.7% in the 3rd quarter. Bray Capital Advisors now owns 460 shares of the bank’s stock worth $28,000 after purchasing an additional 310 shares during the period. Finally, Financial Management Professionals Inc. bought a new position in shares of Toronto-Dominion Bank in the 3rd quarter worth approximately $31,000. Institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

TD has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Toronto-Dominion Bank in a report on Thursday, February 22nd. They issued a “hold” rating for the company. Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday. Finally, Barclays initiated coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.33.

Toronto-Dominion Bank Trading Up 1.2 %

TD stock opened at $56.83 on Thursday. The firm has a fifty day moving average price of $59.43 and a 200 day moving average price of $60.07. The Toronto-Dominion Bank has a fifty-two week low of $54.69 and a fifty-two week high of $66.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $100.19 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.73 and a beta of 0.86.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. The firm had revenue of $10.07 billion during the quarter, compared to analyst estimates of $9.35 billion. Sell-side analysts anticipate that The Toronto-Dominion Bank will post 5.85 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th will be given a dividend of $0.7519 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.29%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 8th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 30.56%.

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 four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.