Point72 Asset Management L.P. Makes New $1.64 Million Investment in The Toronto-Dominion Bank (NYSE:TD)

Point72 Asset Management L.P. bought a new position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 29,784 shares of the bank’s stock, valued at approximately $1,637,000.

Other hedge funds have also bought and sold shares of the company. Kimelman & Baird LLC purchased a new stake in Toronto-Dominion Bank during the 2nd quarter valued at approximately $49,000. Magnolia Capital Advisors LLC purchased a new position in Toronto-Dominion Bank during the second quarter worth $792,000. Mackenzie Financial Corp boosted its stake in Toronto-Dominion Bank by 0.8% during the second quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock worth $1,429,186,000 after buying an additional 218,807 shares during the period. APG Asset Management N.V. lifted its position in shares of Toronto-Dominion Bank by 2.5% during the second quarter. APG Asset Management N.V. now owns 3,849,556 shares of the bank’s stock worth $197,393,000 after purchasing an additional 95,542 shares during the last quarter. Finally, AXA S.A. lifted its position in shares of Toronto-Dominion Bank by 219.4% during the second quarter. AXA S.A. now owns 1,093,569 shares of the bank’s stock worth $60,103,000 after purchasing an additional 751,137 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analysts Set New Price Targets

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

Toronto-Dominion Bank Trading Up 0.2 %

Shares of TD stock opened at $63.27 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 company has a market cap of $110.56 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.85 and a beta of 0.81. The stock has a 50 day simple moving average of $60.20 and a 200-day simple moving average of $58.09. 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 posted its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $1.49 by $0.56. The firm had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 EPS. On average, equities research analysts expect that The Toronto-Dominion Bank will post 5.84 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm 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. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 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.