Alberta Investment Management Corp Grows Stock Holdings in Toronto Dominion Bank (The) $TD

Alberta Investment Management Corp grew its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 31.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,181,800 shares of the bank’s stock after acquiring an additional 753,300 shares during the period. Toronto Dominion Bank accounts for 1.5% of Alberta Investment Management Corp’s holdings, making the stock its 6th largest position. Alberta Investment Management Corp’s holdings in Toronto Dominion Bank were worth $299,850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TD. Harvest Fund Management Co. Ltd grew its holdings in Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after buying an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC bought a new stake in shares of Toronto Dominion Bank in the fourth quarter valued at about $34,000. Smartleaf Asset Management LLC grew its stake in shares of Toronto Dominion Bank by 660.9% in the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after acquiring an additional 456 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Toronto Dominion Bank by 177.9% during the fourth quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock worth $40,000 after acquiring an additional 274 shares during the period. Finally, Sound Income Strategies LLC increased its position in Toronto Dominion Bank by 80.6% during the fourth quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock worth $44,000 after acquiring an additional 208 shares during the period. Institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Trading Up 0.7%

TD opened at $119.38 on Friday. The stock has a market capitalization of $197.27 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 1.31 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a twelve month low of $70.50 and a twelve month high of $120.27. The company has a 50-day simple moving average of $109.23 and a 200 day simple moving average of $99.41.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.63 by $0.11. The firm 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 business’s quarterly revenue was down 31.1% compared to the same quarter last year. During the same period last year, the firm earned $1.97 EPS. Analysts predict that Toronto Dominion Bank will post 6.92 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $1.12 per share. The ex-dividend date is Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio (DPR) is 48.52%.

Analysts Set New Price Targets

Several analysts have weighed in on TD shares. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 11th. Royal Bank Of Canada raised their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Finally, Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One 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 company. According to MarketBeat, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and an average price target of $156.00.

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.