Belpointe Asset Management LLC Acquires New Position in Toronto Dominion Bank (The) (TD)
Belpointe Asset Management LLC acquired a new stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,998 shares of the bank’s stock, valued at approximately $281,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension investment Board increased its position in Toronto Dominion Bank by 1,745.0% during the 2nd quarter. Public Sector Pension investment Board now owns 3,658,692 shares of the bank’s stock valued at $184,104,000 after purchasing an additional 3,881,100 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Toronto Dominion Bank by 44.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,535,700 shares of the bank’s stock valued at $329,248,000 after purchasing an additional 2,022,507 shares during the period. Vanguard Group Inc. increased its position in Toronto Dominion Bank by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 41,532,070 shares of the bank’s stock valued at $2,092,385,000 after purchasing an additional 2,014,823 shares during the period. DSM Capital Partners LLC acquired a new stake in Toronto Dominion Bank during the 3rd quarter valued at approximately $103,030,000. Finally, Capital International Investors increased its position in Toronto Dominion Bank by 45.9% during the 2nd quarter. Capital International Investors now owns 5,258,400 shares of the bank’s stock valued at $264,918,000 after purchasing an additional 1,654,000 shares during the period. 48.82% of the stock is owned by institutional investors.
A number of analysts have weighed in on TD shares. Bank of America reissued a “buy” rating on shares of Toronto Dominion Bank in a research report on Friday, September 1st. Canaccord Genuity reissued a “buy” rating and set a $72.00 target price on shares of Toronto Dominion Bank in a research report on Thursday, August 31st. Scotiabank reissued a “buy” rating and set a $83.00 target price on shares of Toronto Dominion Bank in a research report on Wednesday, November 22nd. Zacks Investment Research raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th. Finally, BidaskClub raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $72.50.
Shares of Toronto Dominion Bank (TD) traded down $0.44 during mid-day trading on Friday, hitting $55.79. 1,040,000 shares of the stock traded hands, compared to its average volume of 915,128. The firm has a market cap of $102,910.00, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. Toronto Dominion Bank has a one year low of $45.18 and a one year high of $58.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.466 per share. This represents a $1.86 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, January 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is 43.56%.
Toronto Dominion Bank announced that its Board of Directors has approved a stock repurchase program on Thursday, August 31st that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Toronto Dominion Bank Profile
Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.
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