BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Position in The Toronto-Dominion Bank (NYSE:TD)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 9.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,814,269 shares of the bank’s stock after purchasing an additional 1,206,574 shares during the period. Toronto-Dominion Bank accounts for 4.6% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s investment portfolio, making the stock its 3rd biggest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Toronto-Dominion Bank were worth $759,449,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc boosted its position in Toronto-Dominion Bank by 28.9% during the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after purchasing an additional 10,415,591 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Toronto-Dominion Bank by 61.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after acquiring an additional 2,215,185 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Toronto-Dominion Bank by 31.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock worth $549,550,000 after acquiring an additional 2,188,263 shares during the period. National Bank of Canada FI boosted its stake in Toronto-Dominion Bank by 6.2% during the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock valued at $1,677,917,000 after purchasing an additional 1,736,931 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in shares of Toronto-Dominion Bank by 6.0% during the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after buying an additional 1,462,794 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on TD shares. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Finally, UBS Group began coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Price Performance

NYSE TD opened at $63.87 on Tuesday. The stock has a market capitalization of $111.60 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.84 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The business’s fifty day moving average is $59.36 and its two-hundred day moving average is $57.90. The Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same quarter last year, the company posted $1.48 EPS. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts forecast that The Toronto-Dominion Bank will post 5.84 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.739 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 4.63%. Toronto-Dominion Bank’s dividend payout ratio is 68.64%.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.