CLARET ASSET MANAGEMENT Corp raised its stake in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,551 shares of the bank’s stock after purchasing an additional 2,963 shares during the quarter. CLARET ASSET MANAGEMENT Corp’s holdings in Toronto-Dominion Bank were worth $3,497,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of TD. Gulf International Bank UK Ltd lifted its position in shares of Toronto-Dominion Bank by 2.5% in the second quarter. Gulf International Bank UK Ltd now owns 596,518 shares of the bank’s stock valued at $34,561,000 after buying an additional 14,300 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Toronto-Dominion Bank by 16.9% in the second quarter. Fisher Asset Management LLC now owns 20,434 shares of the bank’s stock valued at $1,182,000 after buying an additional 2,959 shares during the last quarter. LVM Capital Management Ltd. MI lifted its position in shares of Toronto-Dominion Bank by 2.2% in the second quarter. LVM Capital Management Ltd. MI now owns 187,322 shares of the bank’s stock valued at $10,838,000 after buying an additional 4,100 shares during the last quarter. Addenda Capital Inc. lifted its position in shares of Toronto-Dominion Bank by 96.6% in the second quarter. Addenda Capital Inc. now owns 4,162,640 shares of the bank’s stock valued at $238,377,000 after buying an additional 2,045,677 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in shares of Toronto-Dominion Bank in the second quarter valued at approximately $18,331,000. Hedge funds and other institutional investors own 47.54% of the company’s stock.
A number of research firms have recently issued reports on TD. Zacks Investment Research cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. TheStreet raised Toronto-Dominion Bank from a “c+” rating to a “b” rating in a report on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $79.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 30th. The bank reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.43. The business had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Toronto-Dominion Bank had a return on equity of 16.63% and a net margin of 21.82%. During the same period last year, the firm posted $1.51 EPS. As a group, sell-side analysts forecast that Toronto-Dominion Bank will post 4.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Wednesday, October 10th will be issued a dividend of $0.5144 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $2.06 annualized dividend and a yield of 3.76%. Toronto-Dominion Bank’s payout ratio is currently 49.06%.
About Toronto-Dominion Bank
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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