Eastern Bank Purchases New Holdings in The Toronto-Dominion Bank (NYSE:TD)

Eastern Bank purchased a new stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,043 shares of the bank’s stock, valued at approximately $66,000.

Other hedge funds also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new stake in Toronto-Dominion Bank in the 2nd quarter valued at about $31,000. Blue Trust Inc. raised its holdings in Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after acquiring an additional 212 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in Toronto-Dominion Bank in the 2nd quarter valued at about $49,000. BOKF NA raised its holdings in Toronto-Dominion Bank by 203.6% in the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after acquiring an additional 680 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth approximately $70,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Down 0.9 %

Toronto-Dominion Bank stock opened at $56.34 on Friday. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50 day moving average price of $60.57 and a 200 day moving average price of $57.97. The company has a market capitalization of $98.45 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.68 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The firm had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter last year, the firm earned $1.48 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts expect that The Toronto-Dominion Bank will post 5.82 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 5.25%. Toronto-Dominion Bank’s dividend payout ratio is presently 68.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. UBS Group assumed coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Company 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.