Dynamic Technology Lab Private Ltd Takes Position in Toronto-Dominion Bank (TD)
Dynamic Technology Lab Private Ltd purchased a new position in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 73,548 shares of the bank’s stock, valued at approximately $4,472,000. Toronto-Dominion Bank makes up 0.6% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 2nd biggest position.
Several other institutional investors and hedge funds have also modified their holdings of the company. First Manhattan Co. grew its stake in shares of Toronto-Dominion Bank by 106.9% in the third quarter. First Manhattan Co. now owns 1,970 shares of the bank’s stock valued at $119,000 after buying an additional 1,018 shares in the last quarter. Huntington National Bank grew its stake in shares of Toronto-Dominion Bank by 216.9% in the third quarter. Huntington National Bank now owns 2,114 shares of the bank’s stock valued at $129,000 after buying an additional 1,447 shares in the last quarter. Quad Cities Investment Group LLC bought a new position in shares of Toronto-Dominion Bank in the second quarter valued at $139,000. Klingenstein Fields & Co. LLC bought a new position in shares of Toronto-Dominion Bank in the third quarter valued at $200,000. Finally, Marble Harbor Investment Counsel LLC bought a new position in shares of Toronto-Dominion Bank in the second quarter valued at $206,000. 47.92% of the stock is owned by institutional investors.
TD has been the subject of several analyst reports. Zacks Investment Research cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. TheStreet raised shares of Toronto-Dominion Bank from a “c+” rating to a “b” rating in a research note on Tuesday, September 4th. ValuEngine cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 7th. Barclays reissued a “hold” rating on shares of Toronto-Dominion Bank in a research note on Friday, November 16th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $76.50.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, November 29th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.40. Toronto-Dominion Bank had a return on equity of 16.78% and a net margin of 21.27%. The business had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $9.31 billion. During the same quarter last year, the firm posted $1.36 EPS. The company’s quarterly revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts forecast that Toronto-Dominion Bank will post 5.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Thursday, January 10th will be issued a dividend of $0.509 per share. This represents a $2.04 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, January 9th. Toronto-Dominion Bank’s dividend payout ratio is 41.35%.
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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. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large 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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