The Toronto-Dominion Bank (NYSE:TD) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,997,122 shares of the bank’s stock after purchasing an additional 218,807 shares during the quarter. Toronto-Dominion Bank makes up approximately 2.1% of Mackenzie Financial Corp’s holdings, making the stock its 4th largest position. Mackenzie Financial Corp’s holdings in Toronto-Dominion Bank were worth $1,429,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TD. Dimensional Fund Advisors LP lifted its stake in 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 purchasing an additional 2,215,185 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Toronto-Dominion Bank by 31.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock worth $549,550,000 after purchasing an additional 2,188,263 shares during the last quarter. National Bank of Canada FI increased its position in shares of Toronto-Dominion Bank by 6.2% during the first quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock worth $1,677,917,000 after purchasing an additional 1,736,931 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Toronto-Dominion Bank by 6.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after purchasing an additional 1,462,794 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Toronto-Dominion Bank by 17.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 8,175,457 shares of the bank’s stock valued at $493,880,000 after purchasing an additional 1,238,502 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $63.32 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The company has a market capitalization of $110.69 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.86 and a beta of 0.81. The business has a 50-day moving average of $59.66 and a 200-day moving average of $57.99.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that The Toronto-Dominion Bank will post 5.84 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 4.67%. Toronto-Dominion Bank’s dividend payout ratio is presently 67.73%.

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.