First Allied Advisory Services Inc. Raises Holdings in Toronto Dominion Bank (The) (TD)
First Allied Advisory Services Inc. grew its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 36.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,269 shares of the bank’s stock after purchasing an additional 2,982 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Toronto Dominion Bank were worth $639,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new position in Toronto Dominion Bank in the 3rd quarter worth $946,000. Lenox Wealth Management Inc. increased its stake in shares of Toronto Dominion Bank by 35.0% in the 3rd quarter. Lenox Wealth Management Inc. now owns 15,083 shares of the bank’s stock worth $848,000 after acquiring an additional 3,910 shares in the last quarter. Payden & Rygel bought a new position in shares of Toronto Dominion Bank in the 3rd quarter worth about $14,900,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Toronto Dominion Bank by 0.3% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 293,928 shares of the bank’s stock worth $13,225,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Toronto Dominion Bank by 8.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 92,959 shares of the bank’s stock worth $5,231,000 after acquiring an additional 7,205 shares in the last quarter. Institutional investors and hedge funds own 48.82% of the company’s stock.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, December 2nd. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 price target on shares of Toronto Dominion Bank in a research note on Thursday, November 30th. Scotiabank reiterated a “buy” rating and issued a $83.00 price target on shares of Toronto Dominion Bank in a research note on Wednesday, November 22nd. Macquarie assumed coverage on shares of Toronto Dominion Bank in a research note on Tuesday, October 24th. They issued an “outperform” rating for the company. Finally, Bank of America reiterated a “buy” rating on shares of Toronto Dominion Bank in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Toronto Dominion Bank has an average rating of “Buy” and a consensus price target of $72.50.
Shares of Toronto Dominion Bank (TD) traded up $0.02 during mid-day trading on Wednesday, reaching $56.57. 865,500 shares of the company traded hands, compared to its average volume of 1,472,691. Toronto Dominion Bank has a one year low of $45.18 and a one year high of $58.76. The stock has a market cap of $104,191.67, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.53 and a beta of 0.88. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.18.
Toronto Dominion Bank announced that its Board of Directors has approved a stock buyback plan on Thursday, August 31st that permits the company to buyback 20,000,000 outstanding shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors 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 yield of 3.30%. The ex-dividend date of this dividend is Tuesday, January 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is 44.18%.
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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