Rehmann Capital Advisory Group Takes Position in Toronto Dominion Bank (The) $TD

Rehmann Capital Advisory Group bought a new position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the 4th quarter, HoldingsChannel reports. The fund bought 4,944 shares of the bank’s stock, valued at approximately $466,000.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in Toronto Dominion Bank in the fourth quarter valued at about $2,125,963,000. Canerector Inc. raised its position in shares of Toronto Dominion Bank by 11,028.0% in the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock valued at $1,779,367,000 after buying an additional 22,056,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Toronto Dominion Bank by 41.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock valued at $1,121,660,000 after buying an additional 3,496,645 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of Toronto Dominion Bank during the 4th quarter worth approximately $299,850,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Toronto Dominion Bank by 25.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank’s stock worth $1,432,854,000 after acquiring an additional 3,129,457 shares during the period. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TD shares. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings cut Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Trading Up 0.3%

TD opened at $119.60 on Tuesday. The company’s 50 day moving average is $110.03 and its 200-day moving average is $99.91. Toronto Dominion Bank has a 1-year low of $70.50 and a 1-year high of $120.27. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The company has a market cap of $197.63 billion, a P/E ratio of 18.66, a PEG ratio of 1.32 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm’s revenue was down 31.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.97 EPS. Equities research analysts predict that Toronto Dominion Bank will post 6.92 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. Toronto Dominion Bank’s payout ratio is presently 48.52%.

Toronto Dominion Bank Profile

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.