Security National Bank of SO Dak boosted its position in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 6.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 18,913 shares of the bank’s stock after purchasing an additional 1,065 shares during the quarter. Security National Bank of SO Dak’s holdings in Toronto-Dominion Bank were worth $1,104,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in TD. National Pension Service purchased a new stake in shares of Toronto-Dominion Bank during the 2nd quarter valued at about $147,598,000. JPMorgan Chase & Co. lifted its stake in shares of Toronto-Dominion Bank by 32.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,086,927 shares of the bank’s stock worth $411,749,000 after purchasing an additional 1,733,269 shares during the period. Vanguard Group Inc. lifted its stake in shares of Toronto-Dominion Bank by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 52,502,160 shares of the bank’s stock worth $3,064,025,000 after purchasing an additional 1,293,179 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Toronto-Dominion Bank by 281.2% in the 2nd quarter. Wells Fargo & Company MN now owns 1,603,467 shares of the bank’s stock worth $93,579,000 after purchasing an additional 1,182,842 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in shares of Toronto-Dominion Bank in the 2nd quarter worth approximately $66,530,000. 50.29% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on TD. BMO Capital Markets cut shares of Toronto-Dominion Bank from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $85.00 to $78.00 in a research note on Friday, August 30th. Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Tuesday, September 10th. Scotiabank set a $80.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a research note on Friday, August 30th. Canaccord Genuity set a $81.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, National Bank Financial set a $84.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $78.56.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 29th. The bank reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.45. Toronto-Dominion Bank had a net margin of 20.02% and a return on equity of 16.08%. The company had revenue of $10.50 billion for the quarter, compared to analysts’ expectations of $9.80 billion. During the same quarter last year, the business earned $1.66 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Toronto-Dominion Bank will post 5.14 earnings per share for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.556 per share. This represents a yield of 4.1%. The ex-dividend date is Wednesday, October 9th. Toronto-Dominion Bank’s payout ratio is 44.93%.
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. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to 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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