Diversify Wealth Management LLC Makes New $428,000 Investment in Toronto Dominion Bank (The) $TD

Diversify Wealth Management LLC bought a new stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 4,588 shares of the bank’s stock, valued at approximately $428,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in Toronto Dominion Bank in the 4th quarter valued at approximately $2,125,963,000. Auto Owners Insurance Co boosted its position in Toronto Dominion Bank by 9,320.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock worth $396,544,000 after purchasing an additional 3,923,347 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Toronto Dominion Bank by 41.6% in the fourth 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 purchasing an additional 3,496,645 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Toronto Dominion Bank in the fourth quarter valued at $299,850,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Toronto Dominion Bank by 25.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank’s stock valued at $1,432,854,000 after purchasing an additional 3,129,457 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Stock Performance

Shares of TD stock opened at $123.69 on Friday. Toronto Dominion Bank has a one year low of $72.21 and a one year high of $124.87. 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 has a 50 day moving average price of $116.01 and a 200 day moving average price of $103.81. The firm has a market capitalization of $203.95 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.38 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the business earned $1.97 earnings per share. The firm’s quarterly revenue was down 31.1% compared to the same quarter last year. Sell-side analysts anticipate that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, July 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is currently 49.14%.

Analyst Ratings Changes

A number of equities analysts have issued reports on TD shares. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada lifted their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Finally, Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

About Toronto Dominion Bank

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.