Foster & Motley Inc. Buys New Shares in Toronto Dominion Bank (The) $TD

Foster & Motley Inc. bought a new position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 16,839 shares of the bank’s stock, valued at approximately $2,045,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Toronto Dominion Bank during the fourth quarter valued at about $2,125,963,000. Auto Owners Insurance Co increased its holdings in shares of Toronto Dominion Bank by 9,320.0% in the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock worth $396,544,000 after buying an additional 3,923,347 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Toronto Dominion Bank by 41.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock valued at $1,121,660,000 after acquiring an additional 3,496,645 shares during the last quarter. Alberta Investment Management Corp bought a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at about $299,850,000. Finally, Bank of New York Mellon Corp purchased a new stake in Toronto Dominion Bank during the 2nd quarter valued at about $202,900,000. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock opened at $122.03 on Wednesday. The stock’s 50 day simple moving average is $120.40 and its two-hundred day simple moving average is $108.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $200.71 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.38 and a beta of 0.72. Toronto Dominion Bank has a fifty-two week low of $72.73 and a fifty-two week high of $125.46.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the company earned $1.97 EPS. The business’s revenue was down 31.1% compared to the same quarter last year. As a group, analysts expect that Toronto Dominion Bank will post 6.9 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were paid a $1.12 dividend. The ex-dividend date of this dividend was Friday, July 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.7%. Toronto Dominion Bank’s payout ratio is currently 49.14%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. 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, Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Toronto Dominion Bank currently has a consensus rating of “Moderate Buy” and an average price target 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.