Parsec Financial Management Inc. increased its stake in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 277,475 shares of the bank’s stock after purchasing an additional 3,972 shares during the period. Parsec Financial Management Inc.’s holdings in Toronto-Dominion Bank were worth $16,870,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Toronto-Dominion Bank by 1.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,650,125 shares of the bank’s stock worth $1,078,785,000 after buying an additional 209,398 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Toronto-Dominion Bank by 0.7% in the second quarter. Great West Life Assurance Co. Can now owns 17,918,703 shares of the bank’s stock worth $1,040,423,000 after buying an additional 119,426 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Toronto-Dominion Bank by 1.1% in the second quarter. CIBC Asset Management Inc now owns 17,626,936 shares of the bank’s stock worth $1,020,407,000 after buying an additional 189,558 shares in the last quarter. Toronto Dominion Bank boosted its stake in Toronto-Dominion Bank by 29.9% in the second quarter. Toronto Dominion Bank now owns 14,732,953 shares of the bank’s stock worth $852,369,000 after buying an additional 3,391,735 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in Toronto-Dominion Bank by 6.7% in the second quarter. Bank of Nova Scotia now owns 12,175,279 shares of the bank’s stock worth $703,412,000 after buying an additional 764,012 shares in the last quarter. Institutional investors own 47.54% of the company’s stock.
Several analysts have issued reports on TD shares. Zacks Investment Research lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. TheStreet raised Toronto-Dominion Bank from a “c+” rating to a “b” rating in a research note on Tuesday, September 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Toronto-Dominion Bank presently has a consensus rating of “Buy” and an average price target of $79.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 30th. The bank reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.43. The firm had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.23 billion. Toronto-Dominion Bank had a return on equity of 16.63% and a net margin of 21.82%. During the same quarter in the prior year, the firm posted $1.51 earnings per share. On average, equities analysts anticipate that Toronto-Dominion Bank will post 4.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be paid a dividend of $0.5144 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Tuesday, October 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 49.06%.
Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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