Pacer Advisors Inc. Buys 1,288 Shares of The Toronto-Dominion Bank (NYSE:TD)

Posted by Defense World Staff on Sep 29th, 2023

Pacer Advisors Inc. increased its stake in The Toronto-Dominion Bank (NYSE:TD – Free Report) (TSE:TD) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,571 shares of the bank’s stock after acquiring an additional 1,288 shares during the period. Pacer Advisors Inc.’s holdings in Toronto-Dominion Bank were worth $966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Annapolis Financial Services LLC raised its position in Toronto-Dominion Bank by 83.3% during the 1st quarter. Annapolis Financial Services LLC now owns 429 shares of the bank’s stock valued at $26,000 after purchasing an additional 195 shares during the last quarter. Fairfield Bush & CO. bought a new position in Toronto-Dominion Bank during the 1st quarter valued at approximately $26,000. Fortis Capital Advisors LLC bought a new position in Toronto-Dominion Bank during the 4th quarter valued at approximately $26,000. Money Concepts Capital Corp raised its position in Toronto-Dominion Bank by 341.4% during the 4th quarter. Money Concepts Capital Corp now owns 640 shares of the bank’s stock valued at $41,000 after purchasing an additional 495 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Toronto-Dominion Bank during the 1st quarter valued at approximately $44,000. Institutional investors own 51.52% of the company’s stock.

Toronto-Dominion Bank Stock Performance

Toronto-Dominion Bank stock opened at $60.74 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $110.04 billion, a P/E ratio of 10.53, a PEG ratio of 2.03 and a beta of 0.91. The stock’s 50 day moving average is $62.21 and its 200 day moving average is $60.89. The Toronto-Dominion Bank has a twelve month low of $55.43 and a twelve month high of $70.67.

Toronto-Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last posted its quarterly earnings results on Thursday, August 24th. The bank reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.04). The company had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9 billion. Toronto-Dominion Bank had a return on equity of 15.17% and a net margin of 15.25%. On average, equities research analysts predict that The Toronto-Dominion Bank will post 6 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be paid a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a yield of 4.77%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, October 5th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 50.26%.

Wall Street Analyst Weigh In

TD has been the subject of a number of recent analyst reports. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. Royal Bank of Canada reduced their target price on Toronto-Dominion Bank from $96.00 to $94.00 and set an “outperform” rating on the stock in a report on Friday, August 25th. Credit Suisse Group reduced their target price on Toronto-Dominion Bank from $93.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, August 25th. Finally, Barclays reduced their target price on Toronto-Dominion Bank from $84.00 to $82.00 and set an “equal weight” rating on the stock in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.71.

Read Our Latest Research Report on TD

Toronto-Dominion Bank Profile

(Free Report)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.