Gulf International Bank UK Ltd Boosts Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Gulf International Bank UK Ltd boosted its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 6.4% in the first quarter, Holdings Channel reports. The institutional investor owned 11,838 shares of the bank’s stock after purchasing an additional 707 shares during the period. Gulf International Bank UK Ltd’s holdings in Toronto-Dominion Bank were worth $714,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its position in Toronto-Dominion Bank by 5.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 160,587 shares of the bank’s stock valued at $9,677,000 after purchasing an additional 8,980 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Toronto-Dominion Bank by 29.8% during the third quarter. Acadian Asset Management LLC now owns 51,200 shares of the bank’s stock valued at $3,098,000 after acquiring an additional 11,758 shares in the last quarter. LPL Financial LLC increased its position in shares of Toronto-Dominion Bank by 13.2% during the third quarter. LPL Financial LLC now owns 235,966 shares of the bank’s stock valued at $14,219,000 after acquiring an additional 27,565 shares in the last quarter. Mariner LLC raised its holdings in Toronto-Dominion Bank by 7.9% in the 3rd quarter. Mariner LLC now owns 67,827 shares of the bank’s stock worth $4,087,000 after acquiring an additional 4,937 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Toronto-Dominion Bank by 2.7% in the 3rd quarter. Stifel Financial Corp now owns 100,991 shares of the bank’s stock valued at $6,086,000 after acquiring an additional 2,621 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $54.02 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $94.39 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.48 and a beta of 0.83. The firm’s 50 day moving average price is $56.29 and its 200-day moving average price is $59.13. The Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The business had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. Equities research analysts expect that The Toronto-Dominion Bank will post 5.86 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 68.64%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TD shares. National Bank Financial cut Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday, May 23rd. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. Barclays began coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. BMO Capital Markets decreased their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a report on Friday, May 24th. Finally, Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $88.00.

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.