Korea Investment CORP increased its holdings in shares of The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,619,484 shares of the bank’s stock after purchasing an additional 64,565 shares during the period. Korea Investment CORP owned approximately 0.09% of Toronto-Dominion Bank worth $99,853,000 at the end of the most recent quarter.
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Other institutional investors and hedge funds have also modified their holdings of the company. Fairfield Bush & CO. bought a new stake in shares of Toronto-Dominion Bank during the first quarter worth $26,000. Financial Management Professionals Inc. increased its holdings in Toronto-Dominion Bank by 75.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 408 shares of the bank’s stock worth $25,000 after purchasing an additional 175 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Toronto-Dominion Bank in the 2nd quarter valued at about $27,000. Pinebridge Investments L.P. lifted its holdings in shares of Toronto-Dominion Bank by 52.8% in the second quarter. Pinebridge Investments L.P. now owns 541 shares of the bank’s stock valued at $46,000 after purchasing an additional 187 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Toronto-Dominion Bank by 122.7% during the second quarter. First Horizon Advisors Inc. now owns 715 shares of the bank’s stock worth $47,000 after buying an additional 394 shares during the period. 49.22% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on TD shares. Canaccord Genuity Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and boosted their target price for the company from C$95.00 to C$103.00 in a research note on Monday, December 5th. Scotiabank decreased their target price on shares of Toronto-Dominion Bank from C$103.00 to C$100.00 in a research report on Tuesday, December 20th. Desjardins boosted their price target on shares of Toronto-Dominion Bank from C$105.00 to C$106.00 in a research report on Tuesday. Credit Suisse Group raised their price objective on Toronto-Dominion Bank from C$96.00 to C$98.00 in a report on Friday, December 2nd. Finally, Canaccord Genuity Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Friday, December 2nd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.00.
Toronto-Dominion Bank Stock Performance
NYSE:TD traded up $0.60 during mid-day trading on Friday, hitting $69.42. The stock had a trading volume of 398,561 shares, compared to its average volume of 1,807,309. The company’s 50 day simple moving average is $66.14 and its 200 day simple moving average is $65.30. The stock has a market cap of $126.48 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 1.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The Toronto-Dominion Bank has a twelve month low of $57.27 and a twelve month high of $86.01.
Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last released its quarterly earnings data on Thursday, December 1st. The bank reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.14. The company had revenue of $11.69 billion during the quarter. Toronto-Dominion Bank had a return on equity of 15.91% and a net margin of 23.48%. On average, equities research analysts forecast that The Toronto-Dominion Bank will post 6.7 earnings per share for the current year.
Toronto-Dominion Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Friday, January 6th were given a $0.7081 dividend. The ex-dividend date was Thursday, January 5th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.70. This represents a $2.83 annualized dividend and a dividend yield of 4.08%. Toronto-Dominion Bank’s dividend payout ratio is presently 38.66%.
About Toronto-Dominion Bank
The Toronto-Dominion Bank engages in the provision of financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.
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