Norges Bank Makes New Investment in Toronto Dominion Bank (The) $TD

Norges Bank purchased a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,973,483 shares of the bank’s stock, valued at approximately $1,543,639,000. Norges Bank owned 1.22% of Toronto Dominion Bank at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. purchased a new position in shares of Toronto Dominion Bank during the second quarter valued at $8,492,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Toronto Dominion Bank by 41.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank’s stock worth $264,134,000 after acquiring an additional 1,302,281 shares during the period. Bank of New York Mellon Corp grew its stake in Toronto Dominion Bank by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock valued at $121,791,000 after acquiring an additional 51,698 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Toronto Dominion Bank by 304.0% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 2,446,307 shares of the bank’s stock valued at $180,047,000 after purchasing an additional 1,840,747 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Toronto Dominion Bank by 38.6% in the first quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank’s stock worth $599,064,000 after purchasing an additional 2,780,984 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TD shares. Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Raymond James Financial upgraded Toronto Dominion Bank to a “hold” rating in a report on Monday. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 3rd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Price Performance

NYSE TD opened at $83.40 on Friday. The stock has a 50-day simple moving average of $80.75 and a 200 day simple moving average of $75.28. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $83.57. The stock has a market capitalization of $140.91 billion, a PE ratio of 9.74, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, topping the consensus estimate of $1.46 by $0.45. The company had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 EPS. Research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current year.

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.