Massachusetts Financial Services Co. MA Raises Stake in The Toronto-Dominion Bank (NYSE:TD)

Massachusetts Financial Services Co. MA lifted its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,884,896 shares of the bank’s stock after purchasing an additional 358,283 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.68% of Toronto-Dominion Bank worth $653,194,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TD. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Toronto-Dominion Bank during the 4th quarter worth about $201,000. Janney Montgomery Scott LLC purchased a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $2,790,000. PNC Financial Services Group Inc. boosted its holdings in Toronto-Dominion Bank by 15.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 42,087 shares of the bank’s stock worth $2,720,000 after acquiring an additional 5,607 shares during the period. Clearbridge Investments LLC purchased a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $184,389,000. Finally, D.A. Davidson & CO. boosted its holdings in Toronto-Dominion Bank by 9.3% in the 4th quarter. D.A. Davidson & CO. now owns 11,981 shares of the bank’s stock worth $774,000 after acquiring an additional 1,018 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BMO Capital Markets decreased their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a report on Friday, May 24th. UBS Group assumed coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Cibc World Mkts upgraded Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Stock Performance

Shares of TD opened at $62.93 on Tuesday. The business’s 50 day moving average is $58.63 and its two-hundred day moving average is $57.76. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. The firm has a market cap of $109.95 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.81 and a beta of 0.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 EPS. Analysts forecast that The Toronto-Dominion Bank will post 5.84 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $0.739 per share. This represents a $2.96 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 68.64%.

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.