Burgundy Asset Management Ltd. Acquires 102,782 Shares of The Toronto-Dominion Bank (NYSE:TD)

Burgundy Asset Management Ltd. raised its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 949,985 shares of the bank’s stock after buying an additional 102,782 shares during the period. Burgundy Asset Management Ltd. owned 0.05% of Toronto-Dominion Bank worth $52,195,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mather Group LLC. bought a new stake in Toronto-Dominion Bank during the first quarter worth about $29,000. LifeSteps Financial Inc. bought a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth approximately $30,000. Triad Wealth Partners LLC bought a new stake in shares of Toronto-Dominion Bank during the 2nd quarter worth approximately $31,000. Blue Trust Inc. boosted its holdings in shares of Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after buying an additional 212 shares during the last quarter. Finally, Optiver Holding B.V. bought a new position in shares of Toronto-Dominion Bank in the fourth quarter valued at $39,000. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Trading Down 0.5 %

Shares of TD stock opened at $62.59 on Thursday. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The firm has a 50 day moving average price of $58.91 and a two-hundred day moving average price of $57.82. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $109.43 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81.

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, 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 during the quarter, compared to analysts’ expectations of $9.40 billion. During the same period last year, the firm posted $1.48 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be paid a $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 4.72%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 67.73%.

Wall Street Analyst Weigh In

TD has been the topic of several analyst reports. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. BMO Capital Markets reduced their price target on 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. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, UBS Group began coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and an average price target of $84.00.

About Toronto-Dominion Bank

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.