First Allied Advisory Services Inc. increased its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 3.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,287 shares of the bank’s stock after buying an additional 260 shares during the period. First Allied Advisory Services Inc.’s holdings in Toronto Dominion Bank (The) were worth $420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. grew its holdings in Toronto Dominion Bank (The) by 25.5% in the first quarter. Meeder Asset Management Inc. now owns 2,187 shares of the bank’s stock worth $110,000 after purchasing an additional 444 shares during the period. Parallel Advisors LLC grew its holdings in Toronto Dominion Bank (The) by 10.0% in the second quarter. Parallel Advisors LLC now owns 2,151 shares of the bank’s stock worth $111,000 after purchasing an additional 196 shares during the period. Cornerstone Advisors Inc. grew its holdings in Toronto Dominion Bank (The) by 5.2% in the second quarter. Cornerstone Advisors Inc. now owns 2,319 shares of the bank’s stock worth $117,000 after purchasing an additional 114 shares during the period. Cribstone Capital Management LLC grew its holdings in Toronto Dominion Bank (The) by 47.3% in the second quarter. Cribstone Capital Management LLC now owns 2,341 shares of the bank’s stock worth $118,000 after purchasing an additional 752 shares during the period. Finally, Ropes Wealth Advisors LLC grew its holdings in Toronto Dominion Bank (The) by 18.8% in the second quarter. Ropes Wealth Advisors LLC now owns 2,376 shares of the bank’s stock worth $120,000 after purchasing an additional 376 shares during the period. 47.70% of the stock is owned by institutional investors and hedge funds.

Shares of Toronto Dominion Bank (NYSE TD) opened at 56.16 on Friday. The company has a market cap of $103.82 billion, a price-to-earnings ratio of 12.93 and a beta of 0.89. Toronto Dominion Bank has a 12 month low of $43.31 and a 12 month high of $57.59. The firm has a 50-day moving average of $54.49 and a 200 day moving average of $50.52.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.05 billion. Toronto Dominion Bank (The) had a net margin of 22.85% and a return on equity of 14.71%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 EPS. On average, analysts expect that Toronto Dominion Bank will post $4.50 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, October 5th. This is an increase from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. Toronto Dominion Bank (The)’s dividend payout ratio (DPR) is presently 47.62%.

Toronto Dominion Bank (The) announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 31st that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

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A number of equities research analysts have commented on the stock. BidaskClub upgraded shares of Toronto Dominion Bank (The) from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Toronto Dominion Bank (The) from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Wednesday, July 19th. Bank of America Corporation reiterated a “buy” rating on shares of Toronto Dominion Bank (The) in a report on Friday, September 1st. National Bank Financial upgraded shares of Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a report on Friday, September 1st. Finally, Scotiabank upgraded shares of Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a report on Monday, August 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $64.75.

About Toronto Dominion Bank (The)

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.

Institutional Ownership by Quarter for Toronto Dominion Bank (The) (NYSE:TD)

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