CX Institutional acquired a new stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 580 shares of the bank’s stock, valued at approximately $27,000.
Several other institutional investors have also recently modified their holdings of the company. Watson Rebecca purchased a new position in The Toronto-Dominion Bank in the second quarter worth about $30,000. Balentine LLC purchased a new position in The Toronto-Dominion Bank in the first quarter worth about $33,000. AdvisorNet Financial Inc grew its position in The Toronto-Dominion Bank by 69.5% in the second quarter. AdvisorNet Financial Inc now owns 868 shares of the bank’s stock worth $39,000 after acquiring an additional 356 shares in the last quarter. Verus Capital Partners LLC grew its position in The Toronto-Dominion Bank by 396.0% in the first quarter. Verus Capital Partners LLC now owns 992 shares of the bank’s stock worth $42,000 after acquiring an additional 792 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in The Toronto-Dominion Bank in the first quarter worth about $47,000. Hedge funds and other institutional investors own 47.67% of the company’s stock.
TD has been the subject of several recent research reports. Credit Suisse Group initiated coverage on The Toronto-Dominion Bank in a research report on Friday, October 9th. They issued an “underperform” rating and a $59.00 price target for the company. BofA Securities lowered The Toronto-Dominion Bank from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 6th. ValuEngine downgraded shares of The Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, October 12th. Bank of America downgraded shares of The Toronto-Dominion Bank from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 6th. Finally, CIBC initiated coverage on shares of The Toronto-Dominion Bank in a research note on Friday, July 24th. They issued a “neutral” rating for the company. Six equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $67.50.
The Toronto-Dominion Bank stock opened at $45.79 on Friday. The company has a 50 day moving average price of $47.50 and a 200-day moving average price of $44.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 0.97. The Toronto-Dominion Bank has a fifty-two week low of $33.74 and a fifty-two week high of $58.40. The company has a market capitalization of $83.06 billion, a PE ratio of 11.86, a P/E/G ratio of 1.84 and a beta of 0.91.
The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 27th. The bank reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.50. The Toronto-Dominion Bank had a net margin of 17.44% and a return on equity of 11.84%. The firm had revenue of $10.67 billion during the quarter, compared to the consensus estimate of $9.99 billion. During the same quarter in the previous year, the firm posted $1.79 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, analysts forecast that The Toronto-Dominion Bank will post 3.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Friday, October 9th will be paid a $0.589 dividend. This is an increase from The Toronto-Dominion Bank’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.36 dividend on an annualized basis and a yield of 5.15%. The Toronto-Dominion Bank’s payout ratio is 47.12%.
The Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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