DAVENPORT & Co LLC Makes New $558,000 Investment in Toronto Dominion Bank (The) $TD

DAVENPORT & Co LLC bought a new position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,923 shares of the bank’s stock, valued at approximately $558,000.

Other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board grew its stake in Toronto Dominion Bank by 18.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock valued at $917,832,000 after purchasing an additional 1,946,172 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Toronto Dominion Bank by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock worth $1,010,852,000 after purchasing an additional 115,203 shares during the period. State of Wyoming raised its stake in shares of Toronto Dominion Bank by 236.4% during the 3rd quarter. State of Wyoming now owns 25,765 shares of the bank’s stock worth $2,061,000 after purchasing an additional 18,105 shares during the period. Citigroup Inc. boosted its holdings in shares of Toronto Dominion Bank by 21.8% in the 3rd quarter. Citigroup Inc. now owns 935,526 shares of the bank’s stock worth $74,821,000 after buying an additional 167,736 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in Toronto Dominion Bank by 1,477.7% during the second quarter. Public Sector Pension Investment Board now owns 2,666,729 shares of the bank’s stock valued at $195,749,000 after buying an additional 2,497,700 shares during the period. 52.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on TD. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a research report on Friday. Zacks Research upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Canadian Imperial Bank of Commerce cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toronto Dominion Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Stock Up 1.9%

Shares of NYSE TD opened at $93.30 on Wednesday. Toronto Dominion Bank has a 52 week low of $54.87 and a 52 week high of $99.84. The business has a 50-day simple moving average of $95.31 and a two-hundred day simple moving average of $88.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09. The company has a market cap of $155.93 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.04 and a beta of 0.66.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. The firm had revenue of $11.01 billion for the quarter, compared to analysts’ expectations of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The company’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.02 earnings per share. Research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 34.81%.

Toronto Dominion Bank Company Profile

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.