Rehmann Capital Advisory Group Makes New Investment in Toronto Dominion Bank (The) $TD

Rehmann Capital Advisory Group acquired a new stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,944 shares of the bank’s stock, valued at approximately $466,000.

Other hedge funds also recently made changes to their positions in the company. Citigroup Inc. boosted its position in Toronto Dominion Bank by 21.8% during the third quarter. Citigroup Inc. now owns 935,526 shares of the bank’s stock worth $74,821,000 after purchasing an additional 167,736 shares during the period. TD Asset Management Inc raised its position in shares of Toronto Dominion Bank by 0.7% in the third quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock valued at $3,008,096,000 after purchasing an additional 246,999 shares during the period. Prime Capital Investment Advisors LLC raised its position in shares of Toronto Dominion Bank by 433.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank’s stock valued at $1,528,000 after purchasing an additional 13,179 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Toronto Dominion Bank during the 4th quarter worth about $299,850,000. Finally, JCIC Asset Management Inc. lifted its stake in shares of Toronto Dominion Bank by 891.5% during the 4th quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank’s stock worth $8,035,000 after buying an additional 76,650 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto Dominion Bank Trading Up 0.3%

TD stock opened at $119.60 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50-day simple moving average is $110.03 and its 200 day simple moving average is $99.91. Toronto Dominion Bank has a 52 week low of $70.50 and a 52 week high of $120.27. The company has a market capitalization of $197.63 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.32 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm earned $1.97 earnings per share. Toronto Dominion Bank’s revenue for the quarter was down 31.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Toronto Dominion Bank Company 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.