Investment Management Corp of Ontario Raises Stock Position in Toronto Dominion Bank (The) $TD

Investment Management Corp of Ontario grew its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 73.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,412 shares of the bank’s stock after buying an additional 145,395 shares during the period. Investment Management Corp of Ontario’s holdings in Toronto Dominion Bank were worth $32,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Evolve Private Wealth LLC bought a new stake in Toronto Dominion Bank during the 4th quarter valued at $351,000. Balyasny Asset Management L.P. increased its position in Toronto Dominion Bank by 342.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 16,747 shares of the bank’s stock valued at $1,579,000 after purchasing an additional 23,647 shares during the period. AQR Capital Management LLC grew its position in shares of Toronto Dominion Bank by 1,443.3% in the 4th quarter. AQR Capital Management LLC now owns 1,449,855 shares of the bank’s stock worth $136,642,000 after buying an additional 1,355,907 shares during the period. GAM Holding AG grew its position in shares of Toronto Dominion Bank by 308.5% in the 4th quarter. GAM Holding AG now owns 24,100 shares of the bank’s stock worth $2,274,000 after buying an additional 18,200 shares during the period. Finally, EFG International AG purchased a new stake in shares of Toronto Dominion Bank in the 4th quarter worth about $127,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

TD has been the topic of several recent analyst reports. 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. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Royal Bank Of Canada raised their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Trading Up 0.3%

TD stock opened at $118.60 on Thursday. The firm has a fifty day moving average price of $108.79 and a 200 day moving average price of $99.17. Toronto Dominion Bank has a fifty-two week low of $70.50 and a fifty-two week high of $119.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $195.97 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.31 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. Toronto Dominion Bank’s revenue for the quarter was down 31.1% compared to the same quarter last year. During the same period last year, the firm posted $1.97 earnings per share. Sell-side analysts anticipate that Toronto Dominion Bank will post 6.92 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank’s payout ratio is presently 48.52%.

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.