Diversify Wealth Management LLC Acquires Shares of 4,588 Toronto Dominion Bank (The) $TD

Diversify Wealth Management LLC bought a new position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,588 shares of the bank’s stock, valued at approximately $428,000.

Other hedge funds have also modified their holdings of the company. Bayban purchased a new position in shares of Toronto Dominion Bank during the 4th quarter worth $28,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after purchasing an additional 168 shares during the period. CBIZ Investment Advisory Services LLC acquired a new stake in Toronto Dominion Bank during the fourth quarter worth about $34,000. Brown Lisle Cummings Inc. raised its stake in Toronto Dominion Bank by 88.4% during the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after purchasing an additional 191 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Toronto Dominion Bank by 660.9% during the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after purchasing an additional 456 shares during the period. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TD shares. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Finally, Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Stock Down 0.2%

Shares of NYSE:TD opened at $123.69 on Friday. Toronto Dominion Bank has a fifty-two week low of $72.21 and a fifty-two week high of $124.87. The firm’s 50 day moving average price is $116.01 and its 200 day moving average price is $103.81. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market cap of $203.95 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.38 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the firm posted $1.97 EPS. The company’s quarterly revenue was down 31.1% compared to the same quarter last year. As a group, equities research analysts predict that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a dividend of $1.12 per share. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 49.14%.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.