Bessemer Group Inc. Raises Stock Holdings in Toronto Dominion Bank (The) $TD

Bessemer Group Inc. raised its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 3.3% in the first quarter, Holdings Channel.com reports. The firm owned 711,868 shares of the bank’s stock after buying an additional 22,878 shares during the period. Bessemer Group Inc.’s holdings in Toronto Dominion Bank were worth $66,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TD. Vanguard Group Inc. raised its position in shares of Toronto Dominion Bank by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock valued at $7,280,911,000 after purchasing an additional 765,107 shares in the last quarter. Norges Bank bought a new stake in shares of Toronto Dominion Bank in the fourth quarter worth $2,125,963,000. Bank of Nova Scotia raised its holdings in Toronto Dominion Bank by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock valued at $1,836,518,000 after acquiring an additional 1,234,510 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Toronto Dominion Bank by 10.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock valued at $1,606,978,000 after acquiring an additional 1,629,062 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Toronto Dominion Bank by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank’s stock valued at $1,610,733,000 after acquiring an additional 968,122 shares in the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Down 0.2%

NYSE:TD opened at $123.69 on Friday. The firm has a market capitalization of $203.95 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.38 and a beta of 0.71. The business has a 50 day simple moving average of $116.01 and a 200 day simple moving average of $103.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Toronto Dominion Bank has a 12-month low of $72.21 and a 12-month high of $124.87.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same period last year, the firm earned $1.97 EPS. The firm’s revenue was down 31.1% compared to the same quarter last year. Equities research analysts predict that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a dividend of $1.12 per share. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio (DPR) is 49.14%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Finally, Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.