Lazard Asset Management LLC Buys 311,759 Shares of Toronto Dominion Bank (The) $TD

Lazard Asset Management LLC lifted its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 88.0% during the first quarter, HoldingsChannel.com reports. The fund owned 665,884 shares of the bank’s stock after buying an additional 311,759 shares during the quarter. Lazard Asset Management LLC’s holdings in Toronto Dominion Bank were worth $62,199,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TD. Bayban bought a new stake in shares of Toronto Dominion Bank during the fourth quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd increased its holdings in Toronto Dominion Bank by 112.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after purchasing an additional 168 shares during the period. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank in the 4th quarter worth $34,000. Brown Lisle Cummings Inc. lifted its holdings in shares of Toronto Dominion Bank by 88.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after buying an additional 191 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Toronto Dominion Bank by 660.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after buying an additional 456 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Down 0.2%

Shares of NYSE TD opened at $119.60 on Tuesday. Toronto Dominion Bank has a 1-year low of $72.21 and a 1-year high of $124.87. The business has a fifty day moving average price of $117.51 and a 200 day moving average price of $104.94. The stock has a market capitalization of $196.72 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm’s quarterly revenue was down 31.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.97 earnings per share. Equities research analysts expect that Toronto Dominion Bank will post 6.86 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be issued a $1.12 dividend. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio (DPR) is 49.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada increased 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. 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. Finally, Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.00.

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.