K.J. Harrison & Partners Inc Boosts Stock Position in The Toronto-Dominion Bank (NYSE:TD)

K.J. Harrison & Partners Inc grew its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 17.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 224,966 shares of the bank’s stock after acquiring an additional 34,064 shares during the period. Toronto-Dominion Bank makes up approximately 2.5% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 7th largest holding. K.J. Harrison & Partners Inc’s holdings in Toronto-Dominion Bank were worth $14,563,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Toronto-Dominion Bank by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 72,384,265 shares of the bank’s stock valued at $4,361,876,000 after buying an additional 1,303,730 shares during the last quarter. CIBC Asset Management Inc raised its stake in Toronto-Dominion Bank by 0.4% during the 3rd quarter. CIBC Asset Management Inc now owns 17,918,370 shares of the bank’s stock valued at $1,082,848,000 after buying an additional 76,129 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Toronto-Dominion Bank by 20.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock valued at $1,039,691,000 after buying an additional 2,870,662 shares during the last quarter. Toronto Dominion Bank raised its stake in Toronto-Dominion Bank by 0.9% during the 3rd quarter. Toronto Dominion Bank now owns 14,630,614 shares of the bank’s stock valued at $881,641,000 after buying an additional 126,116 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Toronto-Dominion Bank by 3.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,171,750 shares of the bank’s stock valued at $673,210,000 after buying an additional 342,932 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TD shares. Jefferies Financial Group started coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They set a “hold” rating for the company. Barclays started coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. Finally, Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.33.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock traded up $0.27 during mid-day trading on Friday, hitting $59.38. The stock had a trading volume of 2,167,512 shares, compared to its average volume of 2,982,397. The firm has a market capitalization of $104.70 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.81 and a beta of 0.86. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $59.35 and its 200 day moving average is $60.07. The Toronto-Dominion Bank has a one year low of $54.69 and a one year high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. The company had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.35 billion. On average, sell-side analysts forecast that The Toronto-Dominion Bank will post 5.85 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th will be issued a dividend of $0.7519 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Monday, April 8th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. Toronto-Dominion Bank’s dividend payout ratio is 30.56%.

Toronto-Dominion Bank Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.