Stevens Capital Management LP Takes Position in Toronto Dominion Bank (The) (NYSE:TD)

Stevens Capital Management LP acquired a new stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,114 shares of the bank’s stock, valued at approximately $486,000.

Several other hedge funds and other institutional investors have also modified their holdings of TD. FIL Ltd lifted its position in Toronto Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after acquiring an additional 5,756,584 shares in the last quarter. Mackenzie Financial Corp lifted its position in Toronto Dominion Bank by 5.6% during the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock worth $1,488,233,000 after acquiring an additional 1,491,472 shares in the last quarter. Norges Bank acquired a new position in Toronto Dominion Bank during the 4th quarter worth approximately $992,204,000. Beutel Goodman & Co Ltd. lifted its position in Toronto Dominion Bank by 3.8% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock worth $894,169,000 after acquiring an additional 622,736 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Toronto Dominion Bank by 1.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank’s stock worth $743,037,000 after acquiring an additional 181,781 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $74.88 on Friday. The business’s 50 day moving average is $71.46 and its two-hundred day moving average is $63.58. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $75.58. The firm has a market cap of $128.83 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.69 and a beta of 0.83. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $13.36 billion. During the same period in the prior year, the company posted $2.04 EPS. Analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a dividend of $0.7568 per share. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Thursday, July 10th. Toronto Dominion Bank’s dividend payout ratio is currently 45.31%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Royal Bank Of Canada boosted their price target on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Friday, May 23rd. Finally, Scotiabank initiated coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They issued a “sector perform” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $93.00.

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.