Wolff Financial Management LLC Raises Position in Toronto-Dominion Bank (NYSE:TD)

Wolff Financial Management LLC boosted its position in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 53.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,771 shares of the bank’s stock after acquiring an additional 2,717 shares during the quarter. Wolff Financial Management LLC’s holdings in Toronto-Dominion Bank were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TD. Cambridge Investment Research Advisors Inc. grew its position in Toronto-Dominion Bank by 2.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 40,135 shares of the bank’s stock worth $2,342,000 after purchasing an additional 1,000 shares during the period. QV Investors Inc. lifted its stake in Toronto-Dominion Bank by 26.2% in the 3rd quarter. QV Investors Inc. now owns 2,209,554 shares of the bank’s stock worth $170,688,000 after purchasing an additional 458,245 shares in the last quarter. 1 North Wealth Services LLC purchased a new stake in Toronto-Dominion Bank in the 3rd quarter worth $1,139,000. Great West Life Assurance Co. Can raised its position in shares of Toronto-Dominion Bank by 0.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 17,079,641 shares of the bank’s stock valued at $998,643,000 after buying an additional 53,722 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Toronto-Dominion Bank by 30.2% during the 3rd quarter. Raymond James Trust N.A. now owns 8,657 shares of the bank’s stock valued at $504,000 after purchasing an additional 2,006 shares during the last quarter. 47.63% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $80.00 price objective on shares of Toronto-Dominion Bank in a research note on Monday, October 7th. CIBC set a $83.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays set a $80.00 price target on shares of Toronto-Dominion Bank and gave the company a “buy” rating in a research report on Thursday, August 29th. CSFB lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $76.00 to $74.00 in a research report on Monday. Finally, Bank of America downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $82.00 to $77.00 in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.10.

NYSE TD traded up $0.01 during mid-day trading on Monday, hitting $57.56. The company’s stock had a trading volume of 807,134 shares, compared to its average volume of 1,203,540. Toronto-Dominion Bank has a 52-week low of $47.73 and a 52-week high of $59.55. The stock’s fifty day simple moving average is $56.47 and its two-hundred day simple moving average is $56.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $104.94 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 29th. The bank reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.45. Toronto-Dominion Bank had a net margin of 20.02% and a return on equity of 16.08%. The firm had revenue of $10.50 billion for the quarter, compared to analyst estimates of $9.80 billion. During the same quarter last year, the firm posted $1.66 earnings per share. Toronto-Dominion Bank’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Toronto-Dominion Bank will post 5.15 earnings per share for the current fiscal year.

The company also recently disclosed a — dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.556 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a dividend yield of 4.1%. Toronto-Dominion Bank’s dividend payout ratio is currently 44.53%.

About Toronto-Dominion Bank

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.

Further Reading: Options Trading

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

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