Payden & Rygel Invests $14.90 Million in Toronto Dominion Bank (The) (TD)

Payden & Rygel purchased a new stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 264,800 shares of the bank’s stock, valued at approximately $14,900,000. Toronto Dominion Bank accounts for approximately 1.5% of Payden & Rygel’s investment portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of the company. Omnia Family Wealth LLC boosted its stake in Toronto Dominion Bank by 0.4% during the second quarter. Omnia Family Wealth LLC now owns 5,615 shares of the bank’s stock valued at $283,000 after buying an additional 24 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Toronto Dominion Bank by 0.8% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,181 shares of the bank’s stock valued at $319,000 after buying an additional 47 shares in the last quarter. Teachers Advisors LLC boosted its stake in Toronto Dominion Bank by 3.7% during the second quarter. Teachers Advisors LLC now owns 2,556 shares of the bank’s stock valued at $129,000 after buying an additional 92 shares in the last quarter. Advisor Partners LLC boosted its stake in Toronto Dominion Bank by 2.6% during the second quarter. Advisor Partners LLC now owns 5,140 shares of the bank’s stock valued at $259,000 after buying an additional 130 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Toronto Dominion Bank by 10.0% during the second quarter. Parallel Advisors LLC now owns 2,151 shares of the bank’s stock valued at $111,000 after buying an additional 196 shares in the last quarter. 48.66% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on TD shares. Macquarie assumed coverage on Toronto Dominion Bank in a research note on Tuesday, October 24th. They set an “outperform” rating for the company. Scotiabank reiterated a “buy” rating and issued a $83.00 price target on shares of Toronto Dominion Bank in a research report on Wednesday, November 22nd. Zacks Investment Research lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Toronto Dominion Bank presently has a consensus rating of “Buy” and a consensus target price of $72.50.

Toronto Dominion Bank (NYSE:TD) traded down $0.44 during trading hours on Thursday, hitting $56.60. The company had a trading volume of 1,464,100 shares, compared to its average volume of 1,484,286. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.93. Toronto Dominion Bank has a fifty-two week low of $45.18 and a fifty-two week high of $58.76. The firm has a market cap of $105,094.49, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.55 and a beta of 0.88.

Toronto Dominion Bank announced that its Board of Directors has approved a share buyback program on Thursday, August 31st that allows the company to buyback 20,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.466 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.86 dividend on an annualized basis and a yield of 3.29%. Toronto Dominion Bank’s payout ratio is presently 44.18%.

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About Toronto Dominion Bank

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

Institutional Ownership by Quarter for Toronto Dominion Bank (NYSE:TD)

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