Stratos Wealth Partners LTD. bought a new stake in shares of The Toronto-Dominion Bank (NYSE:TD – Free Report) (TSE:TD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,541 shares of the bank’s stock, valued at approximately $1,212,000.
Other large investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Toronto-Dominion Bank by 35.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 55,757 shares of the bank’s stock worth $3,457,000 after acquiring an additional 14,466 shares in the last quarter. Assetmark Inc. boosted its stake in Toronto-Dominion Bank by 10.6% during the first quarter. Assetmark Inc. now owns 14,950 shares of the bank’s stock worth $896,000 after acquiring an additional 1,432 shares in the last quarter. Piscataqua Savings Bank boosted its stake in Toronto-Dominion Bank by 17.9% during the first quarter. Piscataqua Savings Bank now owns 1,318 shares of the bank’s stock worth $79,000 after acquiring an additional 200 shares in the last quarter. Empower Advisory Group LLC bought a new stake in Toronto-Dominion Bank during the first quarter worth about $207,000. Finally, EP Wealth Advisors LLC bought a new stake in Toronto-Dominion Bank during the first quarter worth about $229,000. Institutional investors own 51.52% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on TD shares. Barclays dropped their target price on shares of Toronto-Dominion Bank from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Friday, August 25th. Credit Suisse Group dropped their target price on shares of Toronto-Dominion Bank from $93.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, August 25th. Royal Bank of Canada dropped their target price on shares of Toronto-Dominion Bank from $96.00 to $94.00 and set an “outperform” rating on the stock in a research note on Friday, August 25th. Finally, StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.71.
Toronto-Dominion Bank Stock Down 0.8 %
TD opened at $60.26 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 firm has a 50 day moving average price of $62.11 and a 200-day moving average price of $60.91. The Toronto-Dominion Bank has a twelve month low of $55.43 and a twelve month high of $70.67. The stock has a market capitalization of $109.17 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.05 and a beta of 0.91.
Toronto-Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last released its quarterly earnings data 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). Toronto-Dominion Bank had a net margin of 15.25% and a return on equity of 15.17%. The company had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9 billion. Equities research analysts forecast that The Toronto-Dominion Bank will post 6 earnings per share for the current 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 issued a dividend of $0.725 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. This represents a $2.90 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Thursday, October 5th. Toronto-Dominion Bank’s dividend payout ratio is currently 49.22%.
About Toronto-Dominion Bank
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.
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