Rockland Trust Co. Acquires New Position in Toronto Dominion Bank (The) $TD

Rockland Trust Co. acquired a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,122 shares of the bank’s stock, valued at approximately $569,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its stake in Toronto Dominion Bank by 18.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock valued at $917,832,000 after acquiring an additional 1,946,172 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Toronto Dominion Bank by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock worth $1,010,852,000 after acquiring an additional 115,203 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Toronto Dominion Bank during the second quarter valued at approximately $267,475,000. Bank of New York Mellon Corp lifted its position in Toronto Dominion Bank by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock valued at $121,791,000 after purchasing an additional 51,698 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its holdings in Toronto Dominion Bank by 304.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 2,446,307 shares of the bank’s stock worth $180,047,000 after purchasing an additional 1,840,747 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Price Performance

NYSE TD opened at $98.55 on Wednesday. The business’s fifty day moving average is $93.47 and its 200 day moving average is $83.61. Toronto Dominion Bank has a fifty-two week low of $54.87 and a fifty-two week high of $98.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $165.40 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $10.10 billion. During the same quarter in the prior year, the business posted $1.72 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Friday, January 9th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Friday, January 9th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. Toronto Dominion Bank’s dividend payout ratio (DPR) is 37.37%.

Wall Street Analyst Weigh In

TD has been the subject of a number of research reports. Natl Bk Canada upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, January 21st. Wall Street Zen downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. Finally, National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

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.