The Toronto-Dominion Bank (NYSE:TD) is Lorne Steinberg Wealth Management Inc.’s 5th Largest Position

Lorne Steinberg Wealth Management Inc. raised its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 131,425 shares of the bank’s stock after acquiring an additional 3,780 shares during the period. Toronto-Dominion Bank comprises about 2.9% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 5th largest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Toronto-Dominion Bank were worth $8,494,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Duality Advisers LP bought a new position in Toronto-Dominion Bank in the fourth quarter worth about $4,199,000. CWM LLC raised its stake in Toronto-Dominion Bank by 15.2% in the fourth quarter. CWM LLC now owns 6,528 shares of the bank’s stock worth $422,000 after buying an additional 863 shares in the last quarter. Signaturefd LLC increased its stake in shares of Toronto-Dominion Bank by 12.7% during the fourth quarter. Signaturefd LLC now owns 20,044 shares of the bank’s stock valued at $1,295,000 after purchasing an additional 2,256 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Toronto-Dominion Bank by 30.7% during the fourth quarter. Lindbrook Capital LLC now owns 3,790 shares of the bank’s stock valued at $245,000 after purchasing an additional 890 shares in the last quarter. Finally, Litman Gregory Wealth Management LLC increased its stake in shares of Toronto-Dominion Bank by 20.7% during the fourth quarter. Litman Gregory Wealth Management LLC now owns 4,375 shares of the bank’s stock valued at $283,000 after purchasing an additional 750 shares in the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Toronto-Dominion Bank Price Performance

Shares of TD stock traded down $0.49 on Wednesday, hitting $58.43. 585,927 shares of the stock traded hands, compared to its average volume of 2,943,010. The firm has a market cap of $103.02 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.81 and a beta of 0.86. The Toronto-Dominion Bank has a 52 week low of $54.69 and a 52 week high of $66.15. The firm has a 50 day simple moving average of $59.37 and a two-hundred day simple moving average of $60.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.99 and a quick ratio of 0.99.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.35 billion. As a group, equities research analysts predict that The Toronto-Dominion Bank will post 5.85 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors 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 dividend yield of 5.15%. The ex-dividend date of this dividend is Monday, April 8th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. Toronto-Dominion Bank’s 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.