Successful Portfolios LLC Takes Position in The Toronto-Dominion Bank (NYSE:TD)

Successful Portfolios LLC bought a new stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,212 shares of the bank’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. increased its holdings in Toronto-Dominion Bank by 17.3% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,351,526 shares of the bank’s stock valued at $87,784,000 after purchasing an additional 199,603 shares during the period. Schechter Investment Advisors LLC raised its stake in Toronto-Dominion Bank by 6.0% during the fourth quarter. Schechter Investment Advisors LLC now owns 7,697 shares of the bank’s stock valued at $497,000 after buying an additional 434 shares during the last quarter. Powers Advisory Group LLC raised its holdings in Toronto-Dominion Bank by 8.5% in the 4th quarter. Powers Advisory Group LLC now owns 5,208 shares of the bank’s stock worth $337,000 after acquiring an additional 410 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Toronto-Dominion Bank by 1.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 83,702 shares of the bank’s stock valued at $5,435,000 after acquiring an additional 857 shares during the last quarter. Finally, Godsey & Gibb Inc. grew its holdings in shares of Toronto-Dominion Bank by 3.1% in the fourth quarter. Godsey & Gibb Inc. now owns 282,025 shares of the bank’s stock worth $18,224,000 after acquiring an additional 8,359 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TD has been the topic of several analyst reports. Barclays assumed coverage on shares of Toronto-Dominion Bank in a research note on Wednesday, March 20th. They set an “equal weight” rating on the stock. Bank of America cut Toronto-Dominion Bank from a “buy” rating to a “neutral” rating in a research report on Monday, December 18th. StockNews.com raised Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, December 20th. Finally, Jefferies Financial Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Thursday, February 22nd. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded down $0.26 during midday trading on Thursday, reaching $60.38. 2,845,349 shares of the company were exchanged, compared to its average volume of 2,828,519. 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 stock has a market cap of $106.59 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.84 and a beta of 0.86. The business’s fifty day moving average is $60.01 and its two-hundred day moving average is $60.33. 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 posted its earnings results on Thursday, February 29th. The bank reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. The firm had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.35 billion. As a group, analysts predict that The Toronto-Dominion Bank will post 5.85 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th will be paid a dividend of $0.7519 per share. This represents a $3.01 annualized dividend and a yield of 4.98%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 8th. Toronto-Dominion Bank’s payout ratio is presently 45.73%.

About Toronto-Dominion Bank

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.