Wealthcare Advisory Partners LLC acquired a new position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,625 shares of the bank’s stock, valued at approximately $654,000.
A number of other institutional investors also recently added to or reduced their stakes in TD. Geode Capital Management LLC boosted its position in Toronto Dominion Bank by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 17,914 shares of the bank’s stock worth $897,000 after purchasing an additional 660 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in Toronto Dominion Bank by 458.9% in the 2nd quarter. Pictet Asset Management Ltd. now owns 4,628 shares of the bank’s stock worth $221,000 after purchasing an additional 3,800 shares in the last quarter. Global X Management Co. LLC boosted its position in Toronto Dominion Bank by 13.8% in the 2nd quarter. Global X Management Co. LLC now owns 6,484 shares of the bank’s stock worth $327,000 after purchasing an additional 787 shares in the last quarter. First Trust Advisors LP boosted its position in Toronto Dominion Bank by 11.0% in the 2nd quarter. First Trust Advisors LP now owns 407,765 shares of the bank’s stock worth $20,543,000 after purchasing an additional 40,249 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Toronto Dominion Bank by 2.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 292,928 shares of the bank’s stock worth $11,363,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 48.82% of the company’s stock.
Shares of Toronto Dominion Bank (NYSE TD) traded up $0.02 during mid-day trading on Wednesday, hitting $56.57. The stock had a trading volume of 865,500 shares, compared to its average volume of 1,472,691. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. The firm has a market cap of $104,191.67, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.53 and a beta of 0.88. Toronto Dominion Bank has a twelve month low of $45.18 and a twelve month high of $58.76.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.466 per share. This represents a $1.86 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, January 9th. Toronto Dominion Bank’s payout ratio is 44.18%.
Toronto Dominion Bank declared that its Board of Directors has authorized a stock buyback program on Thursday, August 31st that allows the company to buyback 20,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Several brokerages have recently weighed in on TD. Zacks Investment Research downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, December 2nd. BidaskClub raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Bank of America reaffirmed a “buy” rating on shares of Toronto Dominion Bank in a research note on Friday, September 1st. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 21st. Finally, Macquarie began coverage on Toronto Dominion Bank in a research note on Tuesday, October 24th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, three have assigned 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 target price of $72.50.
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Toronto Dominion Bank 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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