Purpose Unlimited Inc. Invests $47.49 Million in Toronto Dominion Bank (The) $TD

Purpose Unlimited Inc. acquired a new stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 503,859 shares of the bank’s stock, valued at approximately $47,488,000. Toronto Dominion Bank comprises 2.2% of Purpose Unlimited Inc.’s portfolio, making the stock its 12th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bayban purchased a new stake in Toronto Dominion Bank during the fourth quarter worth approximately $28,000. Harvest Fund Management Co. Ltd increased its stake in Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after purchasing an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC acquired a new stake in Toronto Dominion Bank during the fourth quarter worth approximately $34,000. Cornerstone Planning Group LLC raised its holdings 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 purchasing an additional 274 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Toronto Dominion Bank by 80.6% during the 4th quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock worth $44,000 after buying an additional 208 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 11th. Zacks Research downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Trading Up 0.1%

TD opened at $119.38 on Friday. 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 52 week low of $70.50 and a 52 week high of $120.27. The business’s 50 day moving average is $109.64 and its two-hundred day moving average is $99.55. The firm has a market cap of $197.27 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.32 and a beta of 0.72.

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

Toronto Dominion Bank Increases Dividend

The firm 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 $1.12 dividend. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. This represents a $4.48 annualized dividend and a yield of 3.8%. Toronto Dominion Bank’s payout ratio is currently 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.