SHP Wealth Management Takes $623,000 Position in Toronto Dominion Bank (The) $TD

SHP Wealth Management bought a new stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,609 shares of the bank’s stock, valued at approximately $623,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TD. Vanguard Group Inc. boosted its holdings in Toronto Dominion Bank by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock worth $7,280,911,000 after acquiring an additional 765,107 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Toronto Dominion Bank by 0.7% during the third quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock valued at $3,008,096,000 after acquiring an additional 246,999 shares in the last quarter. Norges Bank bought a new stake in shares of Toronto Dominion Bank during the fourth quarter valued at approximately $2,125,963,000. Canerector Inc. raised its position in shares of Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after purchasing an additional 22,056,000 shares during the period. Finally, Bank of Nova Scotia raised its position in shares of Toronto Dominion Bank by 6.8% during the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock worth $1,836,518,000 after purchasing an additional 1,234,510 shares during the period. 52.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TD. Weiss Ratings downgraded shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 11th. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada upped their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Toronto Dominion Bank has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Stock Performance

NYSE TD opened at $119.38 on Friday. Toronto Dominion Bank has a 1 year low of $70.50 and a 1 year high of $120.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $197.27 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.32 and a beta of 0.72. The company has a fifty day moving average price of $109.64 and a 200-day moving average price of $99.55.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly 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. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm earned $1.97 earnings per share. The firm’s revenue was down 31.1% on a year-over-year basis. As a group, equities research analysts predict that Toronto Dominion Bank will post 6.92 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a $1.12 dividend. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. This represents a $4.48 annualized dividend and a yield of 3.8%. Toronto Dominion Bank’s dividend payout ratio (DPR) is 48.52%.

Toronto Dominion Bank 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.