M&T Bank Corp Buys 6,743 Shares of The Toronto-Dominion Bank (NYSE:TD)

M&T Bank Corp boosted its holdings in The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363,818 shares of the bank’s stock after purchasing an additional 6,743 shares during the quarter. M&T Bank Corp’s holdings in Toronto-Dominion Bank were worth $28,894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC raised its holdings in Toronto-Dominion Bank by 3.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,286 shares of the bank’s stock valued at $340,000 after buying an additional 136 shares during the period. SRS Capital Advisors Inc. grew its position in shares of Toronto-Dominion Bank by 14.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,091 shares of the bank’s stock worth $84,000 after buying an additional 139 shares in the last quarter. Checchi Capital Advisers LLC grew its position in shares of Toronto-Dominion Bank by 2.1% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,471 shares of the bank’s stock worth $573,000 after buying an additional 157 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Toronto-Dominion Bank by 55.6% during the 1st quarter. AdvisorNet Financial Inc now owns 557 shares of the bank’s stock worth $44,000 after buying an additional 199 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its position in shares of Toronto-Dominion Bank by 1.0% during the 1st quarter. Gulf International Bank UK Ltd now owns 23,853 shares of the bank’s stock worth $1,892,000 after buying an additional 230 shares in the last quarter. 50.00% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Stock Down 0.1 %

Shares of TD stock opened at $64.48 on Friday. The stock has a 50 day moving average of $66.89 and a 200 day moving average of $74.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12. The stock has a market cap of $116.50 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.30 and a beta of 0.95. The Toronto-Dominion Bank has a twelve month low of $58.64 and a twelve month high of $86.01.

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last announced its quarterly earnings results on Thursday, May 26th. The bank reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.13. Toronto-Dominion Bank had a return on equity of 15.98% and a net margin of 24.49%. The company had revenue of $11.26 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same period last year, the business earned $1.62 earnings per share. Toronto-Dominion Bank’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that The Toronto-Dominion Bank will post 6.4 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, July 31st. Shareholders of record on Friday, July 8th were issued a $0.692 dividend. This represents a $2.77 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Thursday, July 7th. Toronto-Dominion Bank’s payout ratio is currently 43.15%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TD. Scotiabank dropped their price target on Toronto-Dominion Bank from C$105.00 to C$102.00 in a research report on Friday, May 20th. CIBC downgraded Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a research report on Monday, April 11th. National Bank Financial raised their price objective on Toronto-Dominion Bank from C$100.00 to C$102.00 in a research report on Friday, May 27th. Stifel Nicolaus dropped their price objective on Toronto-Dominion Bank from C$97.00 to C$93.00 in a research report on Wednesday, July 13th. Finally, Credit Suisse Group raised their price objective on Toronto-Dominion Bank from C$102.00 to C$103.00 in a research report on Friday, May 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $100.66.

About Toronto-Dominion Bank

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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.