Advisory Alpha LLC Takes Position in Toronto-Dominion Bank (NYSE:TD)
Advisory Alpha LLC purchased a new stake in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,650 shares of the bank’s stock, valued at approximately $147,000.
A number of other institutional investors have also added to or reduced their stakes in TD. TD Asset Management Inc. raised its stake in shares of Toronto-Dominion Bank by 2.4% in the first quarter. TD Asset Management Inc. now owns 48,855,643 shares of the bank’s stock valued at $2,652,053,000 after acquiring an additional 1,157,886 shares during the period. Vanguard Group Inc raised its stake in shares of Toronto-Dominion Bank by 2.7% in the third quarter. Vanguard Group Inc now owns 47,982,817 shares of the bank’s stock valued at $2,917,356,000 after acquiring an additional 1,273,742 shares during the period. Mackenzie Financial Corp raised its stake in shares of Toronto-Dominion Bank by 26.7% in the fourth quarter. Mackenzie Financial Corp now owns 25,944,547 shares of the bank’s stock valued at $1,289,963,000 after acquiring an additional 5,469,139 shares during the period. Beutel Goodman & Co Ltd. raised its stake in shares of Toronto-Dominion Bank by 0.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 22,865,823 shares of the bank’s stock valued at $1,240,855,000 after acquiring an additional 87,259 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Toronto-Dominion Bank by 13.3% in the first quarter. CIBC Asset Management Inc now owns 21,510,636 shares of the bank’s stock valued at $1,167,313,000 after acquiring an additional 2,517,475 shares during the period. 48.21% of the stock is currently owned by institutional investors.
Shares of TD opened at $56.98 on Wednesday. Toronto-Dominion Bank has a twelve month low of $47.73 and a twelve month high of $62.00. The firm has a market capitalization of $103.63 billion, a PE ratio of 11.33, a PEG ratio of 1.80 and a beta of 1.03. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.11.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a $0.5511 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Tuesday, July 9th. Toronto-Dominion Bank’s payout ratio is presently 44.14%.
Several brokerages have recently weighed in on TD. BMO Capital Markets reissued a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, February 28th. Barclays raised shares of Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 target price on the stock in a research note on Tuesday. Zacks Investment Research downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Canaccord Genuity reissued a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, May 23rd. Finally, National Bank Financial downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $72.00.
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Toronto-Dominion Bank Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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