Canada Pension Plan Investment Board lifted its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 18.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,044,001 shares of the bank’s stock after acquiring an additional 923,990 shares during the quarter. Canada Pension Plan Investment Board owned 0.33% of The Toronto-Dominion Bank worth $394,133,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in TD. Russell Investments Group Ltd. lifted its stake in The Toronto-Dominion Bank by 959.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,626,848 shares of the bank’s stock worth $106,088,000 after acquiring an additional 1,473,258 shares in the last quarter. Alberta Investment Management Corp increased its stake in The Toronto-Dominion Bank by 55.2% in the 1st quarter. Alberta Investment Management Corp now owns 3,744,951 shares of the bank’s stock valued at $244,211,000 after buying an additional 1,332,633 shares during the period. Royal London Asset Management Ltd. purchased a new stake in The Toronto-Dominion Bank in the 1st quarter worth approximately $23,791,000. D. E. Shaw & Co. Inc. boosted its stake in shares of The Toronto-Dominion Bank by 183.6% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 1,021,188 shares of the bank’s stock valued at $66,626,000 after buying an additional 661,088 shares during the period. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of The Toronto-Dominion Bank by 228.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 343,013 shares of the bank’s stock valued at $22,376,000 after acquiring an additional 238,682 shares in the last quarter. 49.21% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research lowered shares of The Toronto-Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $77.40.
The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Wednesday, May 26th. The bank reported $2.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.65. The firm had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.80 billion. The Toronto-Dominion Bank had a net margin of 29.12% and a return on equity of 14.12%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. Sell-side analysts predict that The Toronto-Dominion Bank will post 6.37 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 31st. Stockholders of record on Friday, July 9th will be given a $0.6521 dividend. This represents a $2.61 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Thursday, July 8th. This is a positive change from The Toronto-Dominion Bank’s previous quarterly dividend of $0.63. The Toronto-Dominion Bank’s payout ratio is currently 30.33%.
The Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank engages in providing financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.
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