Mediolanum International Funds Ltd Raises Stake in Toronto Dominion Bank (The) $TD

Mediolanum International Funds Ltd boosted its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 24.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 196,912 shares of the bank’s stock after purchasing an additional 38,108 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Toronto Dominion Bank were worth $18,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Spartan Wealth Advisory Services LLC bought a new stake in shares of Toronto Dominion Bank in the 1st quarter worth approximately $394,000. Assetmark Inc. grew its stake in shares of Toronto Dominion Bank by 70.0% in the 1st quarter. Assetmark Inc. now owns 1,955 shares of the bank’s stock worth $182,000 after buying an additional 805 shares during the last quarter. Bessemer Group Inc. increased its position in Toronto Dominion Bank by 3.3% during the 1st quarter. Bessemer Group Inc. now owns 711,868 shares of the bank’s stock valued at $66,255,000 after buying an additional 22,878 shares in the last quarter. Independent Financial Group LLC bought a new position in Toronto Dominion Bank during the 1st quarter valued at approximately $226,000. Finally, Sanctuary Advisors LLC raised its stake in Toronto Dominion Bank by 4.9% during the first quarter. Sanctuary Advisors LLC now owns 18,216 shares of the bank’s stock valued at $1,700,000 after buying an additional 847 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Performance

TD stock opened at $123.69 on Monday. The stock’s 50 day simple moving average is $116.01 and its 200 day simple moving average is $103.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $72.21 and a 12-month high of $124.87. The stock has a market capitalization of $203.95 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.38 and a beta of 0.71.

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

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank’s payout ratio is 49.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada increased their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report 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. 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, Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Toronto Dominion Bank Company 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.