Envestnet Asset Management Inc. Has $4.59 Million Position in Toronto Dominion Bank (The) (TD)

Envestnet Asset Management Inc. boosted its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,565 shares of the bank’s stock after buying an additional 2,518 shares during the period. Envestnet Asset Management Inc.’s holdings in Toronto Dominion Bank (The) were worth $4,587,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bank bought a new position in shares of Toronto Dominion Bank (The) during the first quarter worth approximately $110,000. Pacad Investment Ltd. acquired a new position in Toronto Dominion Bank (The) during the fourth quarter valued at about $113,000. Bessemer Group Inc. raised its position in Toronto Dominion Bank (The) by 1.6% in the fourth quarter. Bessemer Group Inc. now owns 107,219 shares of the bank’s stock valued at $120,000 after buying an additional 1,640 shares during the period. SRS Capital Advisors Inc. acquired a new position in Toronto Dominion Bank (The) during the fourth quarter valued at about $143,000. Finally, Dubuque Bank & Trust Co. acquired a new position in Toronto Dominion Bank (The) during the first quarter valued at about $172,000. 53.46% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Toronto Dominion Bank (The) (NYSE:TD)

Toronto Dominion Bank (NYSE:TD) traded up 0.82% on Friday, reaching $49.40. 1,299,150 shares of the company were exchanged. Toronto Dominion Bank has a 12-month low of $41.36 and a 12-month high of $54.44. The stock has a market capitalization of $91.06 billion, a P/E ratio of 13.16 and a beta of 0.89. The company’s 50-day moving average price is $47.33 and its 200-day moving average price is $49.58.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, May 25th. The bank reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. Toronto Dominion Bank (The) had a return on equity of 14.09% and a net margin of 22.56%. The company had revenue of $8.47 billion for the quarter, compared to the consensus estimate of $8.72 billion. During the same quarter in the prior year, the business earned $1.20 EPS. Toronto Dominion Bank (The)’s revenue was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Toronto Dominion Bank will post $4.04 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 10th will be given a dividend of $0.444 per share. The ex-dividend date is Thursday, July 6th. This represents a $1.78 annualized dividend and a dividend yield of 3.60%. Toronto Dominion Bank (The)’s dividend payout ratio is currently 46.88%.

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Several analysts have weighed in on the stock. Barclays PLC raised shares of Toronto Dominion Bank (The) from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Zacks Investment Research raised shares of Toronto Dominion Bank (The) from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. Royal Bank Of Canada cut shares of Toronto Dominion Bank (The) from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $73.00 to $68.00 in a research note on Monday, March 13th. They noted that the move was a valuation call. National Bank Financial reissued a “sector perform overweight” rating on shares of Toronto Dominion Bank (The) in a research note on Thursday, May 18th. Finally, BidaskClub raised shares of Toronto Dominion Bank (The) from a “sell” rating to a “hold” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $61.71.

About Toronto Dominion Bank (The)

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

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