FineMark National Bank & Trust boosted its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 23.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,224 shares of the bank’s stock after purchasing an additional 2,535 shares during the period. FineMark National Bank & Trust’s holdings in Toronto Dominion Bank (The) were worth $744,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. IFP Advisors Inc increased its holdings in Toronto Dominion Bank (The) by 15.7% during the 3rd quarter. IFP Advisors Inc now owns 12,895 shares of the bank’s stock valued at $726,000 after purchasing an additional 1,753 shares in the last quarter. K.J. Harrison & Partners Inc increased its stake in shares of Toronto Dominion Bank (The) by 17.0% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 108,849 shares of the bank’s stock valued at $6,112,000 after buying an additional 15,792 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Toronto Dominion Bank (The) in the 3rd quarter valued at $10,653,000. Baskin Financial Services Inc. increased its stake in shares of Toronto Dominion Bank (The) by 1.0% in the 3rd quarter. Baskin Financial Services Inc. now owns 281,510 shares of the bank’s stock valued at $15,807,000 after buying an additional 2,677 shares during the period. Finally, Regentatlantic Capital LLC acquired a new stake in shares of Toronto Dominion Bank (The) in the 3rd quarter valued at $220,000. 47.65% of the stock is owned by hedge funds and other institutional investors.
Toronto Dominion Bank (TD) traded down $0.24 during trading on Friday, hitting $57.33. The stock had a trading volume of 564,500 shares, compared to its average volume of 1,039,891. Toronto Dominion Bank has a 52 week low of $45.18 and a 52 week high of $57.79. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $105,979.84, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89.
Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. Toronto Dominion Bank (The) had a return on equity of 14.71% and a net margin of 22.85%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.05 billion. During the same period in the previous year, the company posted $1.27 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. sell-side analysts predict that Toronto Dominion Bank will post 4.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were paid a dividend of $0.475 per share. The ex-dividend date was Thursday, October 5th. This is a boost from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. This represents a $1.90 annualized dividend and a yield of 3.31%. Toronto Dominion Bank (The)’s dividend payout ratio is presently 46.62%.
Toronto Dominion Bank (The) declared that its Board of Directors has initiated a stock repurchase program on Thursday, August 31st that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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Several research firms have recently issued reports on TD. BidaskClub lowered Toronto Dominion Bank (The) from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded Toronto Dominion Bank (The) from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Wednesday, July 19th. Howard Weil upgraded Toronto Dominion Bank (The) to an “outperform” rating in a report on Monday, August 21st. Canaccord Genuity began coverage on Toronto Dominion Bank (The) in a report on Tuesday, July 18th. They set a “buy” rating on the stock. Finally, National Bank Financial upgraded Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $66.33.
Toronto Dominion Bank (The) Company Profile
Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.
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