Truist Financial Corp increased its stake in shares of The Toronto-Dominion Bank (NYSE: TD – Get Rating) (TSE: TD) by 25.3% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor held 44,886 shares of the bank after purchasing an additional 9,070 shares during the quarter. Truist Financial Corp’s holdings in the Toronto-Dominion Bank were worth $3,565,000 when it last filed with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also increased or reduced their holdings in TD. CIBC Private Wealth Group LLC bought a new position in Toronto-Dominion Bank stock in the fourth quarter worth $1,513,000. Congress Wealth Management LLC DE bought a new position in Toronto-Dominion Bank stock in the fourth quarter worth $393,000. Westwood Holdings Group Inc. bought a new position in Toronto-Dominion Bank stock in the fourth quarter valued at $437,000. Squarepoint Ops LLC increased its holdings of Toronto-Dominion Bank shares by 166.8% in the fourth quarter. Squarepoint Ops LLC now owns 42,339 shares of the bank valued at $3,247,000 after purchasing an additional 26,467 shares last quarter. Finally, Waratah Capital Advisors Ltd. increased its holdings of Toronto-Dominion Bank shares by 118.1% in the fourth quarter. Waratah Capital Advisors Ltd. now owns 150,365 shares of the bank valued at $11,530,000 after purchasing an additional 81,412 shares last quarter. 50.00% of the shares are held by hedge funds and other institutional investors.

Wall Street analysts predict growth

TD has been the subject of a number of recent research reports. Stifel Nicolaus cut his price target on Toronto-Dominion Bank shares from C$97.00 to C$93.00 in a report released Wednesday. Scotiabank lowered its price target on The Toronto-Dominion Bank from C$105.00 to C$102.00 in a Friday, May 20 research report. Credit Suisse Group raised its price target on The Toronto-Dominion Bank from C$102.00 to C$103.00 in a research report on Friday, May 27. StockNews.com began covering the Toronto-Dominion Bank in a research report on Thursday, March 31. They issued a “maintaining” rating for the company. Finally, National Bank Financial raised its price target on The Toronto-Dominion Bank from C$100.00 to C$102.00 in a Friday, May 27 research report. One research analyst rated the stock with a sell rating, nine gave the company’s stock a hold rating and three gave the company’s stock a buy rating. According to data from MarketBeat, The Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus price target of $100.66.

Toronto-Dominion Bank Stock Performance

TD stock opened at $60.53 on Friday. The company has a debt ratio of 0.12, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day moving average price of $69.35 and a 200-day moving average price of $75.58. The company has a market capitalization of $109.36 billion, a P/E ratio of 9.43, a PEG ratio of 1.19 and a beta of 1.00. The Toronto-Dominion Bank has a 1-year low of $58.64 and a 1-year high of $86.01.

The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last released its results on Thursday, May 26. The bank reported earnings per share (EPS) of $1.60 for the quarter, beating the consensus estimate of $1.47 by $0.13. The Toronto-Dominion Bank posted a return on equity of 15.98% and a net margin of 24.49%. The company posted revenue of $11.26 billion for the quarter, versus analyst estimates of $10.18 billion. In the same quarter a year earlier, the company earned earnings per share of $1.62. The company’s quarterly revenue increased by 10.1% compared to the same quarter last year. As a group, equity research analysts expect The Toronto-Dominion Bank to post EPS of 6.41 for the current fiscal year.

The Toronto-Dominion Bank cuts its dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, July 31. Shareholders of record on Friday, July 8 will receive a dividend of $0.692 per share. The ex-dividend date for this dividend is Thursday, July 7. This represents a dividend of $2.77 on an annualized basis and a dividend yield of 4.57%. The Toronto-Dominion Bank’s payout ratio is 43.15%.

About The Toronto-Dominion Bank

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The Toronto-Dominion Bank, together with its subsidiaries, offers various financial products and services in Canada, the United States and abroad. It operates through three segments: Retail Banking in Canada, United States and Wholesale. The company offers personal deposits, such as checking, savings and investment products; financing, investment, cash management, international trade and day-to-day corporate banking; and point-of-sale customer financing options for the purchase of automobiles and recreational vehicles.

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Institutional ownership by quarter for The Toronto-Dominion Bank (NYSE: TD)



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