Valeo Financial Advisors LLC Purchases New Position in The Toronto-Dominion Bank (NYSE:TD)

Valeo Financial Advisors LLC purchased a new stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,513 shares of the bank’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fiduciary Financial Group LLC acquired a new position in Toronto-Dominion Bank in the third quarter valued at approximately $211,000. Successful Portfolios LLC acquired a new stake in shares of Toronto-Dominion Bank in the third quarter valued at approximately $209,000. Hexagon Capital Partners LLC boosted its holdings in shares of Toronto-Dominion Bank by 18.5% in the third quarter. Hexagon Capital Partners LLC now owns 1,337 shares of the bank’s stock valued at $85,000 after acquiring an additional 209 shares during the period. CWM LLC boosted its holdings in shares of Toronto-Dominion Bank by 2.4% in the third quarter. CWM LLC now owns 7,208 shares of the bank’s stock valued at $456,000 after acquiring an additional 170 shares during the period. Finally, Atomi Financial Group Inc. boosted its holdings in shares of Toronto-Dominion Bank by 122.3% in the third quarter. Atomi Financial Group Inc. now owns 14,757 shares of the bank’s stock valued at $934,000 after acquiring an additional 8,118 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TD has been the subject of several research analyst reports. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. UBS Group initiated coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock opened at $56.33 on Wednesday. The Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $65.12. 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 business has a 50 day simple moving average of $60.66 and a 200-day simple moving average of $58.10. The stock has a market capitalization of $98.43 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. The firm had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. Toronto-Dominion Bank’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 earnings per share. Equities analysts predict that The Toronto-Dominion Bank will post 5.84 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.739 dividend. This represents a $2.96 annualized dividend and a yield of 5.25%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 68.41%.

Toronto-Dominion Bank 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.