American Asset Management Inc. Takes Position in Toronto-Dominion Bank (TD)
American Asset Management Inc. acquired a new position in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,750 shares of the bank’s stock, valued at approximately $204,000.
Several other institutional investors also recently made changes to their positions in TD. Capital Investment Advisory Services LLC bought a new stake in shares of Toronto-Dominion Bank during the 4th quarter worth approximately $27,000. Country Trust Bank bought a new stake in Toronto-Dominion Bank in the 4th quarter valued at $35,000. Patriot Financial Group Insurance Agency LLC raised its stake in Toronto-Dominion Bank by 24.9% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 902 shares of the bank’s stock valued at $45,000 after acquiring an additional 180 shares during the period. Sageworth Trust Co bought a new stake in Toronto-Dominion Bank in the 1st quarter valued at $48,000. Finally, Portfolio Solutions LLC bought a new stake in Toronto-Dominion Bank in the 4th quarter valued at $50,000. Institutional investors own 48.86% of the company’s stock.
NYSE TD traded up $0.10 on Monday, reaching $55.95. The stock had a trading volume of 71,372 shares, compared to its average volume of 1,327,361. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. Toronto-Dominion Bank has a 1-year low of $47.73 and a 1-year high of $62.00. The firm has a market cap of $102.32 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 1.53 and a beta of 1.05.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be issued a $0.564 dividend. This represents a $2.26 dividend on an annualized basis and a yield of 4.03%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, April 9th. Toronto-Dominion Bank’s dividend payout ratio is currently 44.14%.
A number of equities research analysts recently weighed in on TD shares. Zacks Investment Research cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. BMO Capital Markets restated a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, February 28th. Finally, ValuEngine upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $60.00.
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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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